REG - Tesco Personal FinGp - Strategic Partnership & Sale of Banking Business

TescoAnnouncement

09/02/2024 08:15

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RNS Number : 6277C  Tesco Personal Finance Group PLC  09 February 2024

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:

 

https://www.londonstockexchange.com/news-article/TSCO/strategic-partnership-sale-of-banking-business/16325180
(https://www.londonstockexchange.com/news-article/TSCO/strategic-partnership-sale-of-banking-business/16325180)

 

To view the Announcement in full, please paste the relevant URL into the
address of your browser.

 

Enquiries:

 

 Tesco Investor Relations:  Chris Griffith       +44 (0) 1707 940 900
 Tesco Media:               Christine Heffernan  +44 (0) 330 678 0639
                            Teneo                +44 (0) 207 420 3143

 

 

 
 
 
 

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