Wal-Mart, the US parent of Asda, has informed holders of the UK supermarket’s bonds and loan notes of an offer to exchange all outstanding Asda debt securities for sterling denominated fixed rate Wal-Mart notes due in 2013.
Wal-Mart said the aim is to reduce outstanding Asda debt securities held by the public and to replace them with an issue of intermediate term sterling denominated Wal-Mart notes.
An application has been made for the Wal-Mart notes to be listed in London and traded on the London Stock Exchange.
The exchange offer will expire on January 24.
Wal-Mart said the aim is to reduce outstanding Asda debt securities held by the public and to replace them with an issue of intermediate term sterling denominated Wal-Mart notes.
An application has been made for the Wal-Mart notes to be listed in London and traded on the London Stock Exchange.
The exchange offer will expire on January 24.
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