It said the revolving credit facility involving between four and six banks would temporarily replace an existing arrangement of a similar size.

Sky said that although more expensive for Tesco than the original facility, the new bank deal offered additional flexibility because it was not contingent on downgrades to its credit rating or breaches of other borrowing covenants.

Tesco declined to comment, beyond stating it "continues to have a strong funding and liquidity position."

Last week Tesco said it had overstated first-half profit by 250 million pounds, effectively its third profit warning in two months. It suspended four senior executives and launched an investigation, calling in forensic accountants and lawyers.

(Reporting by James Davey; Editing by David Holmes)