Asda Plans £1.75 Billion Bond Sale, to Issue New Term Loan (1)

Asda Group Ltd. is planning a bond issuance to help refinance the debt pile that supported its acquisition by Mohsin and Zuber Issa, according to people familiar with the matter.

Britain’s third-largest supermarket chain is looking to raise £1.75 billion ($2.16 billion) through the bond sale, said the people, who asked not to be identified because they’re not authorized to speak publicly about the plans.

A spokesman for Asda declined to comment.

Separately, Asda is marketing a €1.05 billion ($1.1 billion) term loan, according to an announcement seen by Bloomberg.

Asda is looking to refinance debt after the ...