9th Dec 2019 15:13
(Alliance News) - Ocado Group PLC on Monday said it has closed an offering comprising GBP600 million guaranteed senior unsecured convertible bonds due 2025.
The offer was launched on Monday last week. The bonds have a coupon of 0.875% per year, and will be convertible at a price of 1,793 pence per share.
The online grocer said the net proceeds of the issue will be used to fund capital expenditure in relation to its Solutions business commitments and general corporate purposes.
The offering enables it to diversify funding sources and capitalise on attractive issuance conditions, Ocado said.
The stock was trading 0.4% lower in London on Monday at 1,215.00 pence a share.
By Evelina Grecenko; [email protected]
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