The arrangement, which is led by Barclays Bank Plc, is expected to begin once this week following EG’s earnings results due Thursday.
The Blackburn-based firm agreed to buy a few of Asda’s resources, such as its gas stations, car washes and ancillary property for 750 million pounds.
The two British brothers tied up with TDR Capital LLP to raise 3.69 billion pounds of debt financing due to their takeover of Asda earlier in the month. The Issas and TDR struck a deal with Walmart Inc. to grab control of the U.K grocer in October, with all the U.S. giant maintaining a wager and contributing to 500 million pounds of equity.
EG Group, which has fueled its growth at break-neck speed by tapping debt markets in the past several years, was bought from the Issas in 2001 and is presently part-owned by host TDR Capital.
The brothers and TDR Capital are also thought to be in talks to buy more than half of java series’s Caffe Nero’s 350 million pounds ($491 million) of loans, the Telegraph reported earlier this week.
A spokesperson at EG Group declined to comment on the new financing plans, and representatives for Barclays did not immediately respond to a request for comment.
