Tesco raises £500m in 50-year oversubscribed corporate bond issue

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TESCO has raised £500m through the issue of a 50-year corporate bond - an issue that was more than four times oversubscribed.

Financiers selling the bond said that they closed the book on the issue after just two hours. The bond has a yield of 5.23pc compared with 4.06pc on the equivalent government bond. Pension scheme...

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