Business
Proposed Convertible Bond Offering
Proposed Convertible Bond Offering.
About this update from Ocado Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION IN THEM, 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 \n29 July 2024\n \nOcado Group plc\n \nProposed Convertible Bond Offering\n \nOcado Group plc (\"Ocado\" or the \"Company\") is today launching an offering of approximately £250 million of guaranteed senior unsecured convertible bonds due 2029 (the \"Bonds\") (the \"Convertible Bond Offering\").\n \nConcurrently with the Convertible Bond Offering the Company has today also announced 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 approximately £600 million.\n \nThe Convertible Bond Offering will be offered via an accelerated bookbuild which will be launched immediately following this Announcement only to institutional investors. Barclays Bank PLC, BNP PARIBAS and Goldman Sachs International are acting as Joint Global Coordinators (the \"Joint Global Coordinators\") and the Joint Global Coordinators together with Deutsche Bank AG, London Branch are acting as Joint Bookrunners (together, the \"Joint Bookrunners\") in respect of the Convertible Bond Offering.\n \nThe final terms of the Convertible Bond Offering are expected to be announced at the end of the accelerated bookbuild.\n \nThe Company has today also announced an invitation to the holders of Ocado's outstanding 0.875% senior un...