Ocado Group (GB:OCDO) has released an update.
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Ocado Group PLC has successfully priced its £250 million Convertible Bond Offering due in 2029, alongside a High Yield Offering, aiming for a total raise of £600 million. The bonds, with a 6.25% annual coupon, will be guaranteed by various subsidiaries of Ocado and are convertible into ordinary shares at a premium. This strategic financial move is intended to extend the maturity profile of Ocado’s debt, supporting its growth plans and maintaining a solid financial profile.
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