BLP act on another landmark transaction for Tesco

International law firm Berwin Leighton Paisner (BLP) advised Tesco Plc, a longstanding client of over 30 years, on its latest Credit Mortgage Backed Security (CMBS) issue.

The £450m transaction involved ten trading Tesco stores and a store which is under construction.  The portfolio comprised over 700,000 square feet of retail space throughout the UK.

It was the fifth Tesco CMBS in a series that BLP has advised on since June 2009.  BLP lawyers from across the firm, covering practice areas that ranged from corporate finance, securitisation, real estate and tax, worked on the transaction led by finance partner Emma Howdle-Fuller.

Emma Howdle-Fuller, said: “We are delighted to have worked closely with Tesco in relation to their fifth CMBS of this nature, involving expertise from across the firm.”

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