GUS launches bond buy-back

GUS has offered to buy bonds held by rebel bond holders ahead of a decision over whether the demerger of its retail and credit-checking arms represents a default. The group said it intended to allow those who are concerned to exit.

It will buy the bonds at the original price plus interest accrued. The repayments will be funded through a specially set up bank facility.

The split of retail chains Argos and Homebase from Experian is due to take place in October.