Tesco Personal Finance Group PLC Strategic Partnership & Sale of Banking Business

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

 

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

 

Enquiries:

 

Tesco Investor Relations:	Chris Griffith	[phone]
Tesco Media:	Christine Heffernan	[phone]
	Teneo	[phone]

 

 

                                                                                                                                                                                                                                               

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