Asda owner faces rise in servicing £4bn debt, MPs told

Group faces £30m rise in debt costs, Asda bosses tell MPs on business and trade committee

The owner of Asda faces a sharp increase in the cost of servicing its £4bn debt pile early next year, its bosses have told MPs as they were questioned over the retailer’s finances.

The group faces a £30m rise in debt costs in February, when the fixed interest rate on a sixth of its £4.2bn debt pile expires.