U.K. supermarket retailer Tesco is planning a ₤680.0 million ($1.09 billion) securitization of rental income derived from 21 retail stores located in the U.K.

The deal, Tesco Property Finance 4 Plc Class A notes due October 2040, is backed by properties that are fully let to Tesco Stores and Tesco Property Nominees No.1 and No.2, which are the tenants, until December 2040.

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