Ocado Group’s Successful Upsized Notes Offering

Ocado Group (GB:OCDO) has released an update.

Ocado Group PLC has announced the successful upsizing and pricing of its £450 million senior unsecured notes due in 2029, with a significant demand leading to an increase from the initially planned £350 million. The offering is accompanied by a separate £250 million offering of convertible bonds, with proceeds aimed at reducing debt and extending debt maturity profiles. The notes offering, set to close on August 8, 2024, underscores Ocado’s financial strategies and investor confidence.

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