Supermarket giant Tesco has raised US$2 billion (£967.7 million) in its first bond issue in the US.

The grocer, which will make its retail debut in the US next week with the launch of the new Fresh & Easy food fascia, said the deal would give it exposure to a new pool of investors.

“Tesco have chosen to issue in the US dollar market because they want to introduce US bond investors to Tesco, establish themselves in a new market and diversify their investor base,” the retailer said in a statement.

Proceeds of the issue will be used “to refinance certain short-term indebtedness and for general corporate purposes.”

Tesco intends to spend up to£250 million a year establishing its US business.

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