FPM, an AAB Group Company, hosted over 450 guests at the AABIE Charity Ball, held for the first time in Newry. Held in the city’s Canal Court, the Ball raised a remarkable £100,369 for the AABIE Charitable Initiative (known as ‘AABIE’) with all funds going directly to the charity. Feargal McCormack, FPM Managing Partner commented, “We are incredibly grateful to everyone who played a part in making the AABIE Ball such a success. To our connections who made such generous donations, our table hosts and guests who joined us on the night and to every person that made our event possible, thank you so very much." “One of the driving forces behind FPM joining AAB Group back in 2022 was the synergy across both our teams. Being active members of our local communities and giving something back through AABIE is key to this. We are truly thrilled, and incredibly proud, of what we have achieved together for AABIE this weekend.” Formed in 2016, AABIE is AAB Group’s very own charity, and is the platform which enables everyone across AAB Group, including FPM team members, to invest in their local communities through grant funding and volunteer time. This approach means that the support AABIE provides is varied and widespread, and the charity is well-placed to help many people. To date, AABIE has supported over 180 charities across the United Kingdom and Island of Ireland. The latest grant round (ended 31 March 2024) saw AABIE pledge over £38,000 to 28 different charities, the largest amount the charity has ever pledged in a single grant round. Some of the charities supported as part of this grant round include the Edinburgh Food Project, enabling them to cover the cost of mental health and wellbeing workshops, Leeds Baby Bank who are now able to purchase 42 buggies and prams because of the funding, and Befriend a Child who now have the costs of running activities for the next 12 month covered by AABIE. Down Right Brilliant were able to provide an overnight residential trip to an outdoor activity centre for adult members of DRB and to provide a workshop for siblings of members with Down Syndrome. The charity also issued top-up funding to six team members across its offices in the United Kingdom and Ireland to support their own fundraising activities. Following these donations, AABIE reached the milestone of pledging over £300,000 of vital grant funding since the charity was launched. Another recent milestone achieved by AABIE was reaching over 6,000 hours of volunteer time delivered. All AAB Group team members are entitled to a day of volunteer leave each year to support community projects and causes close to their hearts. Sheena Anderson, AABIE Chair said, “When we launched AABIE in 2016 we only had one community we worked within, which was Aberdeen, and it is fantastic to see how we have managed to increase the reach and impact AABIE has in new and different communities as the AAB Group has grown." “Raising over £100K is a wonderful result and will enable AABIE to continue to support so many charities and worthy causes across the United Kingdom and Island of Ireland. It is a privilege to work with my fellow AABIE Trustees and see what a significant impact grant funding and volunteer time can have on the lives of so many people.” Emma Lancaster, AAB Group Chief Executive, added, “AABIE is a very special charity, and the way we operate is that bit different. Everyone across AAB Group is involved with AABIE, and it is our team members who truly make the work AABIE does possible through volunteering and raising almost all money donated through grant funding." “We are very proud of AABIE, and proud of the work our teams do to ensure AABIE is successful. But we know there is so much more we can do to continue to support the communities we operate in, and we can only do that if AABIE has the funds available to support the charities and worthy causes who need our help. Achieving what we have this last weekend will enable this amazing charity to continue to carry out its great work, and we are so thankful to everyone for their support and generosity.” The current AABIE grant round closes on 30 June 2024. More information on how to apply for funding or volunteer time can be found at here . https://youtu.be/z-9dRiCBI98

Lotte Kopecky took back-to-back wins at the 2024 Lloyds Bank Tour of Britain Women, powering to the second stage victory in Wrexham after a breakaway with British rider Anna Henderson. The world champion from SD Worx-ProTime stormed up the iconic Horseshoe Pass at a blistering pace, breaking away from the peloton with Henderson (Great Britain Cycling Team) hot on her wheel, before beating the Brit in a sprint finish after tackling 140.2km and 1,570m of climbing. It was a steady start out of Wrexham’s town centre, with the peloton staying together and embracing the crowds, before Franziska Koch (Team dsm-Firmenich Postnl) made the first big move of the day around 30km in. Reaching the first Queen of the Mountains (QOM) of the day at 88km in, Koch remained unchallenged, and had increased her lead to three minutes and 15 seconds. With a distance of 1.4km and average elevation of 3%, Koch took Eyton Hill in her stride to take maximum QOM points, while a strong sprint behind saw Heidi Franz (Lifeplus-Wahoo) cross the line second and the current jersey holder, Lizzie Deigan (Great Britain Cycling Team) take third. The peloton slowly started to reel Koch back in, reducing the gap to a minute as the German rider also took the intermediate sprint solo at the 93km mark. A battle for second and third saw Charlotte Kool (Team dsm-Firmenich Postnl) and Kopecky go shoulder to shoulder, with the Dutch rider just edging out ahead of the race leader. Koch was shortly swallowed back up by the peloton, but secured the Combativity award of the day for her efforts. The race was set alight as the riders battled up the second Queen of the Mountains on Horseshoe Pass, with Kopecky taking the 4.2km climb and 6.4% gradient in her stride. The Belgium rider showed her world champion class, accelerating effortlessly from the front of the peloton to form a gap, with Henderson straight on her wheel. Deignan attacked to take third on the classification and retain her Queen of the Mountains jersey. Henderson and Kopecky continued to build a considerable lead on the peloton, with the gap growing to 38 seconds coming into the final 10km of the race. Heading into Wrexham, Henderson tried to mount a last gasp attack on the world champion, but was no match for Kopecky, who stormed to her second win of this year’s Tour of Britain Women and crossed the line with her arms outstretched. The chasing pack crossed the line 20 seconds later with sprint queen Lorena Wiebes (SD Worx-ProTime) powering to third. Kopecky’s win sees the Belgium rider maintain the leader’s jersey and sprinters jersey, while Henderson now sits in the Best of British jersey. Deignan remains top of the Queen of the Mountains category, while Elise Jansen’s 10th place sees her maintain the Young Rider jersey. With two riders on the podium today, SD-Worx ProTime maintain the team classification. Speaking on her second stage win, Kopecky said: “It couldn’t have gone better, I am really happy with today’s race. It was nice to get Anna with me in the break today, and I wasn’t prepared to try something after the longer climb. I knew what the finish would look like, and I didn’t panic, and it’s been another really good day for our team.” Henderson said: “I am really happy, bittersweet I think. I was super happy to go with Lotte and be on par with her physically up the climb. But being that close to the win, I am disappointed but happy with my second race back after breaking my collarbone.” "On the team’s potential to win an upcoming stage, Henderson said: “I think we can, we have a lot of strength in the team and it is a big ambition for us as a team to win a stage.” Deignan added: “We have a really strong group of women now, it is exciting. I think it is the first time we can say that we have four strong road riders that could potentially medal in Paris." “It is always nice to take a trip to the podium, being in the Queen of the Mountain jersey, and win some flowers. My mum is here so extra motivation there!” Tomorrow’s third stage will start and finish in front of the iconic Golden Gates of Warrington Town Hall, with the peloton immediately heading south, crossing the River Mersey and Great Manchester Canal. Riders will then pass the stunning Walton Hall and Gardens before breezing through the picturesque Cheshire West and Chester villages of Higher Whitley, Great Budworth and Wincham. Find the full preview to the event here. Photo credit SWpix.com.

To mark the 80th anniversary of the D Day Landings, not-for-profit care provider, Harrogate Neighbours delivered its meals on wheels on June 6th with a difference. On a daily basis, Harrogate Neighbours and its team of volunteers deliver over 150 hot meals to older and vulnerable people – a vital lifeline for many. To celebrate the milestone anniversary, meals were delivered in a series of vintage cars, including, a 1935 Austin 10 and a 1936 MG SA. The classic cars, which were driven and donated by Joe Pugh from Classic Car Picnics and Mark Boldry (his personal car) surprised recipients who receive hot meals to their door. Service users got the chance to sit in the cars and have their pictures taken. One of the service users the vehicle visited, is 101-year-old veteran, Mrs Peacock. Based at Victoria Barracks in Windsor, she drove the ambulances and lorries and was in London with her sister to mark the D Day celebrations in 1944. Harrogate Neighbours also hosted a series of events throughout the day. Sally Hall Vocals entertained residents at The Cuttings, Harrogate Neighbours’ extra care living scheme with a repertoire of 40s, wartime songs. The residents then enjoyed freshly made fish and chips on what happened to be National Fish and Chip Day. Finally, ‘Harry of Harrogate’ known for his famous free walking tours joined residents and members of the community at The Cuttings for a historical talk on Harrogate and the war effort CEO of Harrogate Neighbours, Sue Cawthray said, “It is so important that we all remember and celebrate the bravery and efforts of the wartime heroes." “As an adult care provider, we have supported many veterans over the years and feel passionately about ensuring we do everything we can to thank them for their service and celebrate their commitment to the country. It was a fantastic day – a big thank you to everyone who made it possible.”

A Warwickshire distiller is celebrating triple awards success on the international stage after drinks from its gin, rum and vodka ranges were all recognised. Warwickshire Gin Company has scooped Gold for its Kingmaker Vodka in the prestigious International Wine & Spirits Competition, along with Bronze for both its signature gin, Leamington on Parade and its Sting Like A Bee Edition Honey Rum. The drinks sit proudly with the other IWSC award-winners in his collection including Pelota Dry and Kingmaker Gins which won a Silver in 2021; and Philosopher’s Daughter Gin and Pugilist Spice Blended Rum which won a Bronze in 2022. And it is the latest chapter in a proud journey for founder David Blick who established the distillery at Victoria Business Centre in 2018 after 28 years working in retail and logistics. He said: “I’m so delighted our spirits have been recognised as such high quality, it’s what we strive for to ensure we produce quality premium spirits. Winning a Gold too is just incredible, we have had great feedback from our Vodka since our launch and the Martinis we make on our cocktail evenings are a firm favourite." “Winning awards gives new customers the comfort that they buying a great quality spirit.” We hope this gives more bars and restaurants the excuse they need to stock a locally produced award- winning gins, rums and our GOLD Kingmaker Vodka! Distilled using a small batch method with a traditional copper, the drinks collection was born from ‘a desire to capture a moment in history, developing flavours to fully represent the county’s own unique story and bringing the range of hand-crafted flavours to life. The Gold Award-winning Kingmaker Vodka - named along with the Kingmaker Gin, after Richard Neville 16th Earl of Warwick – won high praise from the judges for its ‘luscious sweet notes intertwined with a rich yeasty texture.’ Leamington on Parade - WGC’s first concept gin which launched the business - is inspired by the true story of circus elephant trainer Sam Lockhart in the 1880s and The Sting Like A Bee Honey Edition Rum is the newest addition to the collection, along with the Pugilist Ghost Edition White Rum, inspired by local boxing legend Randolph Turpin.

Marks & Spencer has announced it is investing over £1 million in a brand-new way of addressing food poverty. By redistributing food directly from its supply chain, the retailer has created three new meals which will be distributed to families in need via FareShare – the UK’s largest charity fighting food insecurity and waste – as part of the Coronation Food Project, inspired by His Majesty King Charles III. From September, M&S will be sending the specially developed products to FareShare to distribute through its national network. Developed by M&S chefs, the Vegetable Curry, Carrot & Coriander Soup and Family Sized Pizza meals use surplus ingredients from within the retailer’s existing supply chain which might otherwise go to waste, such as fresh vegetables. These meals are nutritionally balanced to serve between 2 and 4 people and all meals will be freshly prepared with a guarantee of four days life from the day of donation. The brand’s close relationships with its partners allow it to redistribute not just ingredients but time and capacity to this effort. Working with one of its biggest fresh food suppliers, 2 Sisters Food Group – which has been supplying M&S for over 20 years – M&S is able to utilise capacity in its supply chain to deliver fresh, healthy and nutritious products directly to those families who need it. The £1m investment will donate over 1.5 million freshly prepared nutritious meal servings to FareShare. This follows the donation of 1 million meal servings in the eight weeks leading up to Christmas last year, where in an industry first – the meals were donated directly from the M&S Food supply chain. M&S is currently donating freshly prepared meals from its popular ‘Eat Well’ range. M&S Food has worked with FareShare to carefully select three of its most popular products, which hold the M&S “gold standard” seal of approval for health and nutrition. Alex Freudmann, Managing Director of M&S Food commented: “Making great quality, delicious and nutritious food is what we do at M&S Food and we’ve been inspired by the Coronation Food Project to go further to redistribute more meals than we ever have before." "By utilising ingredients, capacity and time available within our supply chain, we’re able to donate so much more product and ultimately help more people. I’m delighted to be able to come together with our supplier partners to support FareShare throughout the year.” Over the last 12 months, M&S donated over 25.3 million meal equivalents through its supply chain partnership with FareShare and store redistribution partnership, Neighbourly – which over the past seven years has donated more than 70 million meals – products which are too good to waste - to more than 1,450 local charities and community organisations.

A family-owned Kent-based fruit farm has signed a new £750 million deal with Aldi. AC Goatham & Son has supplied Britain’s fourth largest supermarket with a variety of apples and pears since 2016 and was announced earlier last year as Aldi’s sole supplier of British apples. The new 20-year deal will also see the introduction of the “Aldi Orchard” – a 200-acre plot on New Green Farm in Gravesend, which will grow a mix of Gala and Braeburn apples for Aldi stores across the country. This long-term deal will provide vital support for British farmers — assuring them of supply and helping to give them the security they need to grow and thrive. The news comes as British Apples and Pears Limited (BAPL) named Aldi as 2023 Apple Retailer of the Year and the Fresh Produce Consortium (FPC) awarded Aldi Fresh Produce Retailer of the Year 2023. AC Goatham & Son, named Supermarket Fruit and Veg Supplier of the Year at the FPC Awards 2023, also has plans to plant an additional 100 acres per year of apple trees exclusively for Aldi. Founded in 1947, and run by Clive Goatham and his son Ross, the business supplies an estimated 250 million apples and pears to Aldi stores each year – more than five times the volume it initially supplied to the supermarket in 2016. The business has big plans for its future, including working with Aldi to extend the growing season with controlled atmosphere storage and working in partnership with the supermarket on its journey to Net Zero. Ross Goatham, Managing Director of AC Goatham & Son, said: “This is a fantastic achievement and a real testament to the work both AC Goatham & Son and Aldi have put into the agreement to have created something truly collaborative, a first for the British Top Fruit Sector." “This gives us the confidence now to invest for the future and to grow more British apples and pears for Aldi, guaranteeing sustainability, viability and most importantly UK food security.” Julie Ashfield, Managing Director of Buying at Aldi UK, said: “We are proud to be one of the largest buyers of British apples and of our partnership with AC Goatham & Son. This new 20-year deal represents a £750m investment in British farming and demonstrates our long-term commitment to championing British produce.” Aldi was the largest buyer of British apples in 2023 according to the industry body, British Apples & Pears Limited (BAPL) and are poised to repeat this feat in 2024.

The NHS has become the latest organisation to be impacted by a cyber-attack on a third-party supplier providing critical services, causing huge disruption to patient care. RSM UK says this latest attack highlights the growing risk to organisations as cyber criminals continue to target third-party service providers. Last week a third-party which holds data for millions of Ticketmaster and Santander customers was hacked by the ShinyHunters hacker group, which is now threatening to sell the data. According to RSM UK’s latest The Real Economy findings, over half (58%) of middle market businesses have had a third-party service provider suffer a data breach or cyber-attack in the last 12 months. Over a quarter of businesses surveyed (26%) confirmed that this impacted their business either financially, reputationally, or operationally, up from 17% in 2022. Sheila Pancholi, partner at RSM UK, said: “As the technology landscape evolves, many businesses have outsourced their IT service provision, including cyber security. This shift in behaviour does not go unnoticed by fraudsters, who can see third-parties as a weak link in the security chain, which many are successfully exploiting. While outsourcing can bring the key expertise and skills a business needs, strengthen operational resilience, and scale-up quickly, it can also increase the risk of data security issues and regulatory compliance breaches.” Stuart Leach, partner at RSM UK added: “The increase in third party breaches highlights the need for formal and extensive technology and cyber due diligence when selecting a third-party supplier." "This ensures the proper controls and cyber defences are in place to mitigate risk. These defences should be tested at least annually." "Those who have contracted work out to third parties may be held liable for the consequences, and have their business interrupted for considerable time." "The reputational damage and loss of trust from customers that a cyber-attack can cause may take years to rebuild.” Businesses should focus on the following: Map your cyber footprint – this is everywhere your data is, and potentially includes providers without active agreements. Understand your critical providers’ threat landscape and what the motivations of a cyber attacker might be. Assess the potential impact to your business if a critical third-party provider is breached. Assess your and your providers’ controls to manage cyber risk given their threat landscape.

On the run up to the General Election on July 4th, small businesses across the UK are calling on the incoming government to prioritise sustainable and green initiatives. Research by Novuna Business Finance highlights the key demands made by small businesses. Help small businesses want from a new government: Green Tax system: 38% demand a green tax system that rewards small businesses for implementing green initiatives and penalises others for ignoring them. Reduced Business Rates: 37% call for a reduction in business rates for small businesses that switch to green or renewable energy supply. Increased Grants: 37% highlight the necessity for larger grants that fully cover the set-up costs of switching to greener energy. Nationally, 94% of small business owners could point to specific areas where they needed help and finance concerns dominated – whether incentives, rewards for investing in green initiatives or preferable rates for funding. More generally, small businesses were also asked what green policies they hoped for from a new government and that would inspire them to take green issues more seriously. Amongst the top responses were, reducing single-use, plastic waste, increasing recycling and reducing littering (75%) and investing more in renewable power so the vast majority of the UK's electricity is generated from renewables by 2030 (73%) – and support also for a substantial investment into the green economy (72%). The top 5 policies small businesses would like to see from a new Government. With a General Election called for 4th July, the report by Novuna Business Finance - The Small Business Perspective on Sustainability – The Mandate for Support from a new UK Government” – amplifies the continued and pressing demand for clarity amongst small business owners regarding the next Government’s stance on sustainability and mission towards Net Zero. Jo Morris, Head of Insight at Novuna Business Finance commented: “For the last three years, our research has shown the small business owners want to do more on sustainability and Net Zero, but they are looking for leadership, clarity, and consistency from the Government." "If bold moves are made on various green policies, small businesses say it will inspire them to also do more themselves on a range of green and sustainable initiatives. And more specifically, small business owners want financial support themselves from a new government – whether this takes the form of incentives or rewards for becoming more socially and environmentally conscious businesses. This is not a flight of fancy; sustainable businesses are also strong businesses and good news for the UK economy.”

Over a third of people in the UK (36%) have now used Generative AI (GenAI), equivalent to 18 million people aged between 16-75 according to new findings from Deloitte’s 2024 Digital Consumer Trends research, based on a survey of 4,150 UK adults aged 16-75. Key Findings: Seven million people have used GenAI for work, up 66% from four million a year ago; Of those using GenAI, one in 10 (10%) use it daily, one in four (26%) weekly, and two in five (41%) use it less than monthly; Three quarters (74%) of people who have used GenAI for work claim it boosts their productivity; with one in four (27%) reporting that their employer actively encourages the use of GenAI. In the UK, three in five (60%) people are now aware of GenAI and over a third (36%) have used a GenAI tool, an increase of 26% (13 million people) from May 2023. However, notable gender and age gaps were apparent in the findings with 43% of men having used GenAI, compared to just 28% of women. The technology is also primarily used by younger groups, with 62% of people aged 16-34 having actively used it, compared to only 14% of 55-75 year olds. GenAI In The Workplace One in seven people (14%) have used GenAI for work, equating to around seven million people, increasing from four million a year ago. Of those using GenAI for work, three in four (74%) claim a productivity boost of either ‘a fair amount’ or ‘a great deal’. However, just 27% of those in work claim that their employer encourages the use of GenAI, suggesting that the majority work may be doing so without their employer’s official endorsement. Among those who have used GenAI for work, the most popular reasons are generating ideas (44%) and looking up information (41%), followed by creating written content (39%), writing/editing emails (38%), and summarising text (37%). Paul Lee, partner and head of technology, media and telecommunications research at Deloitte, commented: “Employees are moving faster than their employers when it comes to adopting GenAI to transform how they work. While workers are signalling that GenAI can boost their output and save them time, many employees may not be supported, encouraged, or explicitly endorsed to use the technology by their organisation." “While the most popular uses tend to be generating ideas and looking up information, these may not be optimal applications of GenAI, given known issues such as hallucination. Employers need to step up and invest in tools and governance to better support their staff in using this technology. Additionally, usage has to thrive among all types of employees, not just certain demographics, if the tools are to be most effective.” Improving AI Fluency Is Vital For Businesses The survey also demonstrates that the frequency of use of GenAI is variable. Amongst those using the technology, one in three (36%) do so either daily or weekly, whereas two in five (41%) use it less than monthly. Of these low-frequency users, 23% did not find it helpful, 19% were not satisfied with its answers and 18% claimed they did not know how to use it well. Meanwhile, many of those aware of GenAI are not familiar with its risks, including potential inaccuracies and biases. Among those aware of GenAI, 25% believe it is always factually accurate, and 26% think it is unbiased. Those who have used GenAI are even more likely to be unaware of risks, as 36% of users believe it is always accurate, and 36% think it is unbiased. However, among those aware of GenAI, more than half (59%) would be less inclined to trust an email if they knew it was created with GenAI. Similarly, 56% would be less inclined to use a customer service if they knew they were conversing with a GenAI assistant. Costi Perricos, partner and global Generative AI lead at Deloitte, said: “Whether organisations have supportive or strict policies on the use of Generative AI, it is clear that improving business AI fluency is vital. GenAI deployment should be accompanied by a thorough learning and development programme, including training on ethics and responsible use, and guidance on how to get the most value from GenAI tools. HR leaders have a key role to play, creating a clear framework in which their workforce can operate.” Lee concluded: “In 2024, companies ought to be asking what they should do with GenAI, rather than focusing purely on everything it could do. The C-suite is increasingly looking for proof of return on investment in technologies before funding large scale deployment across their workforce. However, there are barriers to this, as quantifying employee productivity can be difficult, particularly in knowledge-based roles." “Businesses are also exploring customer facing GenAI tools but should be aware that they may face some initial hesitance as fluency improves. Customers may be more welcoming of GenAI if they can be convinced that it enables a better, faster experience, with higher quality answers. Business leaders must fund and drive this education.”

Passengers travelling through London Gatwick this summer will be the first to sample a PizzaExpress breakfast, with the much-loved brand arriving at the airport this month. PizzaExpress will be opening its first UK airport restaurant at London Gatwick’s South Terminal on Monday 20 May. It will be the first and only PizzaExpress in the UK serving a breakfast menu, available from 3:30am – 11:00am daily, with dishes including an Italian Bacon & Egg pizza featuring crispy pancetta, breakfast staples such as Smashed Avocado & Poached Eggs served on golden, freshly baked dough, The Full Works featuring a classic English breakfast served with a PizzaExpress twist of Dough Sticks, Pancetta & Maple Syrup Pancakes, and Breakfast Dough Balls & Jam. Looking to get a slice of the brand’s classic menu? From 11am, PizzaExpress fans will then be able to enjoy their beloved American Hot and Padana, delicious calzones, salads, such as the ever-popular Niçoise, pastas and desserts. Jonathan Pollard, Chief Commercial Officer, London Gatwick said: “We are delighted to welcome PizzaExpress to London Gatwick. It will be a fantastic addition to our South Terminal departure lounge, as we strive to offer our passengers an exciting, diverse range of options before they fly." “PizzaExpress is the latest opening at London Gatwick, and adds to the growing choice of iconic food and drink brands available to our passengers." “PizzaExpress’ commitment to quality and passion for creating memorable dining experiences aligns with our own dedication to ensuring a positive experience for all passengers travelling through the airport.” Chris Holmes, PizzaExpress Chief Development Officer, said: “We’re incredibly excited to be opening PizzaExpress at London Gatwick, which is a gateway to many destinations across the world, including some of our own international markets. Our customers want to enjoy their favourite brand everywhere and at any time, so opening sites across travel hubs - of which Gatwick is set to be the first airport location - provides even more opportunities for our customers to connect with us." “Embarking on a journey with our franchise partner, Airport Retail Enterprises, we wanted to set the stage for something different across our Gatwick Airport site. As an industry leading innovator, we created a menu that offers up something fresh and different, appealing to diners around the clock." “We all know the holiday starts from the moment you arrive at the airport, and from early morning breakfasts to late night dinners, there’s nowhere better to celebrate that holiday feeling than at PizzaExpress London Gatwick.” PizzaExpress is the latest in a number of new restaurants and bars to open at London Gatwick over the past year, with top brands including The Breakfast Club, Brewdog, Krispy Kreme, Black Sheep Coffee and Greggs arriving at the airport since last summer.

Asda announced that it has successfully refinanced more than £3.2bn of its debt – reflecting strong demand from investors and pushing out the majority of its maturities into the next decade. The refinancing, which completed yesterday, included the biggest Sterling high-yield bond this year and the second-largest sterling bond in the European leveraged finance market – only behind Asda’s original £2.25bn Sterling bond tranche in 2021. Strong investor demand enabled the supermarket to raise £1.75bn of senior secured notes and upsize by more than £200m on a £900m Equivalent EUR Term Loan B (TLB) bringing the final size to £1.1bn equivalent. The maturities of the new senior secured notes and TLB are 2030 and 2031, respectively. As part of the £3.2bn refinancing, Asda used c. £0.3bn of balance sheet cash to reduce gross debt. Asda also successfully extended the maturity of its revolving credit facility (“RCF”) from August 2025 to October 2028 and was able to upsize this facility from £667m to £748m in connection with the wider refinancing. The refinancing follows a recent upgrade in Asda’s corporate rating from Moody’s to B1 from B2, while Fitch Ratings raised their outlook on Asda’s Long-Term IDR to positive from stable and affirmed the IDR rating at B+ and S&P Global Ratings assigned a B+ long-term issuer rating with a stable outlook. This came after Asda last week announced a strong financial performance in FY23 – delivering a 24% increase in Adjusted EBITDA after rent to £1.1bn and a 5.4% rise in like-for-like sales. Michael Gleeson, Asda’s Chief Financial Officer, said: “We saw strong demand from investors after taking a thoughtful and prudent approach to refinancing our near-term debt well ahead of maturities – to further strengthen our balance sheet." “The positive reaction followed Asda’s strong FY23 results – and Moody’s upgrade of its corporate rating to B1 from B2 last week citing a material reduction in leverage and growth in underlying free cashflow." “The refinancing also reflects the wider strength of Asda as a diversified retail group with a strong grocery business at its core supported by a fantastic non-food offering in George and following recent investments, a major presence in the high-growth convenience and food-service markets.” The strength of Asda’s FY23 performance and increased cash generation enabled it to reduce leverage from 3.9 times at the start of 2023 to 3.0 times at year end. Asda’s successful refinancing reflects its position as the UK’s third-largest supermarket, serving circa 18 million customers a week across its more than 1,200 stores and foodservice outlets and its number two position in online grocery. Additionally, George at Asda is also the UK’s third-largest fashion retailer by sales volume and the market leader in childrenswear.

A Charnwood resident with a military background has been selected to light the beacon in Queen’s Park to mark the 80th anniversary of D-Day. Loughborough resident, Jane Bryson, served in the Territorial Army for 20 years in the Queen Alexandra's Royal Army Nursing Corps before retiring as a Major in 1996. Jane’s father, William John Robinson served his country in the Second World War as a Yeoman Signaller and was on board HMS Scorpion which was based off the Allied beaches on D-Day. Following a competition organised by Charnwood Borough Council, Jane has been selected to light the beacon in Queen’s Park in Loughborough on Thursday June 6 – exactly 80 years since the Allied invasion. Jane said: “It is a huge honour to be selected to light the beacon for this important event which marks 80 years since D-Day." “My father and I have a military background and I think it is so important that we honour this anniversary and pay our respects to the people that bravely served and lost their lives. Unfortunately, my father passed away in March 2020 just three months short of his 100th birthday but I know that this will be a proud moment for both myself and my family.” The Mayor of Charnwood, Councillor Dr Julie Bradshaw MBE selected Jane from the entries that were received in the competition. The Mayor, said: “I am looking forward to joining Jane when the beacon is lit in Queen’s Park to mark this anniversary." “Charnwood has a long military history and it is set to be a poignant night when beacons are lit up and down the country. I would like to say thank you to everyone that entered the competition and it was fantastic to read the entries that were received. I hope to see as many residents as possible in Queen’s Park on the evening of June 6 as we mark 80 years since D-Day.” A number of information stalls including Culture Leicestershire, Sea Cadets and Loughborough Library Local Studies Group will be in Queen’s Park from 7.30pm with refreshments also available at Queen’s Park Café which will remain open during the event. The beacon will be lit around 9.15pm and will be one of thousands across the country lit to mark 80 years since the Allied invasion during the Second World War.