Business
Update on Financing Transaction
Update on Financing Transaction.
About this update from Ocado Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6489N\n Ocado Group PLC\n 01 October 2021\n \n \n \n \n \n Ocado Group PLC\n \n \n 01 October 2021\n \n \n \n \n \n NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN, SOUTH AFRICA OR AUSTRALIA. \n \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF OCADO GROUP PLC. PLEASE SEE THE IMPORTANT NOTICE BELOW.\n \n \n \n \n \n OCADO GROUP PLC\n \n \n Successful Upsizing and Pricing of £500 million Senior Notes due 2026\n \n \n \n \n \n Further to the announcement of 27 September 2021, Ocado Group plc (\"Ocado\") today announces that it has successfully priced an offering of £500 million Senior Notes due 2026 at a coupon of 3.875% (\"the Offering\") and an issue price of 100%. Due to strong demand, the Offering was upsized from the originally anticipated size of £400 million. The Offering is expected to close on 8 October 2021. Concurrent with, and contingent upon, the closing of the Offering, Ocado expects to complete the redemption of all of its outstanding 4.00% Senior Secured Notes due 2024 (the \"Existing Notes\") (such redemption, together with the Offering, the \"Financing Transactions\"). This announcement does not constitute a notice of redemption with respect to the Existing Notes nor an offer to tender for, or purchase, any Notes or any other security.\n \n \n These Financing Transactions are intended to extend the maturity profile of Ocado's debt by refinancing the Existing Notes and to provide additional funding to be used principally for capital expenditure. \n \n \n Contacts\n \n \n Stephen Daintith, Chief Financial Officer on +44 (0)20 7353 4200 or +44 (0)1707 228 000 \n \n \n David Shriver, Director of Communications, on +44 (0)20 7353 4200 or +44 (0)1707 228 000 \n \n \n Martin Robinson at Tulchan Communications on +44 (0)20 7353 4200 \n \n \n Further information about Ocado is available on its website at www.ocadogroup.com.\n \n \n Important Notice\n \n \n \n \n \n Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertai...