Morrisons raises £331m to cut debt via ground rent sale to Song Capital: Grocer sells ground rent interest in 76 stores to US property investor as it seeks to reduce its debt pile.

Autor:	Berrill, Lewis
Předmět:	CHIEF financial officers CONVENIENCE stores CHIEF executive officers INTEREST rates REAL property
Zdroj:	Property Week; 10/4/2024, Vol. 91 Issue 37, p15-15, 2/3p
Abstrakt:	UK supermarket chain Morrisons has raised £331m by selling ground rent payments on 76 of its stores to US property investor Song Capital. The move is part of Morrisons' efforts to reduce its debt, which stood at £8.6bn at the end of 2023. The chain plans to use the proceeds from the deal to repay debt and unlock value from its UK property portfolio. Morrisons has been working to cut its debt over the past year, including through the sale and leaseback of assets and the sale of petrol stations. [Extracted from the article]
Databáze:	Complementary Index
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