Tesco raise more than £950 million FROM sale and leasebacks
Semple Fraser recently acted for Tesco along with their other advisers on the latest Commercial Mortgage Backed Security issue in its £5 billion programme of sale and leasebacks.
The £958.45 million deal, which involved 41 of its stores across the UK, was described by the Estates Gazette as the largest securitised bond issuance in Europe since 2007, and included an equity sale into a joint venture with Tesco Pension Fund.
The deal involved Semple Fraser lawyers from across the firm including real estate, banking and tax and was led within Semple Fraser by Elspeth Carson and Alex Innes.
Semple Fraser have been acting for Tesco for almost 15 years and also acted on two similar deals for them since June 2009.
For further information please contact: Elspeth carson
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