UK - Sainsbury's has made a raft of changes in a bid to plug rising deficits in its defined benefit (DB) pension scheme, including a £350m cash injection and a doubling of its annual deficit payments.
Sainsbury’s said it planned to raise up to £2.07bn of new secured debt of which £1.7bn would be used to buy back its unsecured bonds. Some of that will be used used to make a £350m pension pay out ...
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