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Pricing of £250 million Convertible Bond Offering
Pricing of £250 million Convertible Bond Offering.
About this update from Ocado Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, OR AT ANY ADDRESS IN, THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, JAPAN, SOUTH AFRICA OR TO U.S. PERSONS (AS DEFINED IN REGULATION S (\"REGULATION S\") UNDER THE U.S. SECURITIES ACT OF 1933 (THE \"SECURITIES ACT\")) OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. \n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \nFor immediate release\n \n30 July 2024\n \nOCADO GROUP PLC\n \nPricing of £250 million Convertible Bond Offering\n \nOcado Group plc (\"Ocado\" or the \"Company\") is pleased to announce the successful pricing of the offering of £250 million of guaranteed senior unsecured convertible bonds due 2029 (the \"Bonds\") (the \"Convertible Bond Offering\").\n \nConcurrently with the launch of the Convertible Bond Offering the Company also announced yesterday its intention to offer £350 million in aggregate principal amount of sterling-denominated senior unsecured notes due 2029 (the \"High Yield Offering\", and together with the Convertible Bond Offering, the \"Offerings\"). The Offerings are intended to raise total gross proceeds of £600 million.\n \nThe Bonds will be issued by Ocado and initially guaranteed by Ocado Holdings Limited, Ocado Operating Limited, Ocado Central Services Limited, Ocado Innovation Limited, Ocado Solutions Limited, Ocado Solutions USA Inc., Ocado Solutions (US) ProCo LLC, Ocado Solutions Canada Inc., and Ocado Intelligent Automation Limited (together, the \"Guarantors\"), with the Guarantors subject to change in certain circumstances.\n \nThe Bonds will be issued at par and will carry a coupon of 6.25% per annum payable semi-annually in arrear in equal instalments on 6 February and 6 August of each year, commencing on 6 February 2025. The Bonds will be convertible into ordinary shares of 2 pence each in the capital of the Company (\"Ordinary Shares\"). The initial conversion ...