Asda has borrowed an additional £155m to help meet its mountain of debt obligations, as the embattled supermarket continues the battle to deleverage.
The supermarket revealed today it had successfully raised and allocated “a private £155m-equivalent fungible add-on” to one of its existing term loans. It means the new £155m loan was agreed on the same terms as the original borrowings.
Asda will use the funds, along with a similar amount from its balance sheet, to pay off debt due in 2025 and 2026.
The group said that, following on from a £3.2bn refinancing in May this year, all its near-term debt maturities had been pushed into the next decade.
“Asda remains focused on prudently managing the capital structure in the long…
