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Ocado Group Prices Upsized 500 Mln Pound Senior Notes Offering At 3.875%

Ocado Group plc (OCDO) on Friday said it priced the 500-million-pound Senior Notes due 2026 offering at a coupon of 3.875 percent, at an issue price of 100 percent. The offering was upsized from the originally anticipated size of 400 million pounds due to strong demand.

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 percent Senior Secured Notes due 2024.

The transactions are intended to extend the maturity profile of Ocado's debt by refinancing the existing notes and providing additional funding to be used principally for capital expenditure.

Shares of Ocado Group were last traded at 1662.50 pounds, down 6 pounds or 0.36 percent from previous close.

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