Wal-mart chooses Irish stock exchange in bid to raise €350m to pay off debts

GIANT US retailer Wal-Mart is to use the Irish Stock Exchange to trade over €350 million in loan notes that fall due for redemption in 2011.

The world’s largest retailer has chosen the ISE over both London and Luxembourg to offer 50bn in Japanese Yen to investors.

The money will be used to pay off debt incurred in Yen by the group, which is reputed to have a computer system bigger than the Pentagon’s.