B&M plans £250m bond issue

Discounter retailer B&M is set to issue a corporate bond worth £250 million.

The Liverpool-based company’s debt will take form of “senior secured notes”, a variety of corporate debt that will be paid before a “junior senior secured notes” in the event of bankruptcy.

The London Stock Exchange (LSE) listed company’s debt is due to be paid in 2028.
B&M said it aims to use the capital for "general corporate purposes" and to pay the associated costs of offering the notes.

Senior notes are classified as a type of unsecured debt and they aren’t guaranteed by any collateral, such as property.

In June, the discount retailer reported a 108 per cent rise in annual pre-tax profits, beating analyst expectations to hit £525 million for the financial year.

However, B&M said in June that sales were volatile on a weekly basis, particularly since the Covid-19 restrictions started to ease, a trend which the retailer said it expects to continue.

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