IN BRIEF: Ocado to raise GBP600 million from bond offerings for tender
Ocado Group PLC - Hatfield, England-based online grocer and technology licensor - Plans to raise GBP600 million from two bond offers. Prices GBP250 million in guaranteed senior unsecured convertible bonds due 2029 and also will offer GBP350 million in senior unsecured notes due 2029. The convertible bonds will be issued at par value and carry a coupon of 6.25% per year. They will be convertible into shares at an initial conversion price of GBP6.11 each. The money from the convertible and high-yield bond offers will be used to tender for outstanding bonds and notes due in 2025 and 2026. Read More