Property Transaction

RNS Number : 5159W

Tesco PLC

31 January 2012

 



31 January 2012

TESCO ANNOUNCES NEW PROPERTY SALE AND LEASEBACK TRANSACTION

Tesco has completed a new sale & leaseback transaction involving UK property assets.

Ten trading stores and one store under development have been sold for a total consideration in excess of £450m for an average net initial yield of 4.9%.

The deal is structured as a 50-50 joint venture with a UK investor.

The transaction is being primarily funded by fixed rate notes issued by Tesco Property Finance 5 PLC.

Enquiries:

Tesco, Investor Relations

Steve Webb

Tel: [phone]

Chris Griffith

Tel: [phone]

Tesco, Press & Media

Trevor Datson

Tel: [phone]

 

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