Strategic Partnership & Sale of Banking Business
TESCO AGREES LONG-TERM STRATEGIC PARTNERSHIP WITH BARCLAYS BANK UK PLC TO PROVIDE CUSTOMERS WITH TESCO-BRANDED BANKING PRODUCTS AND SERVICES
EXISTING TESCO BANKING OPERATIONS TO BE SOLD TO BARCLAYS BANK UK PLC
WITH MAJORITY OF CASH TO BE RETURNED TO SHAREHOLDERS
Tesco Personal Finance Group plc (TPFG) notes the announcement made by its parent company, Tesco PLC, in respect of its entry into a long-term strategic partnership with Barclays Bank UK Plc to provide Tesco-branded banking products and services and the sale of its existing banking operations to Barclays Bank UK Plc (the Announcement).
TPFG has made this announcement to ensure that holders of its listed securities are fully appraised of Tesco PLC's announcements. TPFG expects to redeem all outstanding £250,000,000 3.500 per cent. Fixed Rate Reset Senior Notes due 2025 (XS2031923126) at their principal amount on 25 July 2024.
A copy of the Announcement is available at:
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Enquiries:
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Tesco Investor Relations: |
Chris Griffith |
+44 (0) 1707 940 900 |
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Tesco Media: |
Christine Heffernan |
+44 (0) 330 678 0639 |
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Teneo |
+44 (0) 207 420 3143 |
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