Asda today announces that it has successfully raised and allocated a private £155m-equivalent fungible add on to the existing EUR Term Loan B. Proceeds from this issuance will be used, alongside a similar quantum of cash from the balance sheet to address remaining maturities due in 2025 and 2026.
Following on from the £3.2bn refinancing in May this year, this pushes out all near-term debt maturities into the next decade.
Asda remains focussed on prudently managing the capital structure in the long-term. The use of £155m of cash from the balance sheet further reduces gross leverage and is reflective of Asda’s cash generative nature and strong cash generation through FY24.
