LONDON (dpa-AFX) - Ocado Group plc (OCDO.L) announced the pricing of the offering of 250 million pounds of guaranteed senior unsecured convertible bonds due 2029.
The company also announced on Monday its intention to offer 350 million pounds in aggregate principal amount of sterling-denominated senior unsecured notes due 2029. The Offerings are intended to raise total gross proceeds of 600 million pounds.
The Bonds will be issued at par and will carry a coupon of 6.25% per annum payable semi-annually in arrear in equal instalments on 6 February and 6 August of each year, commencing on 6 February 2025. The Bonds will be convertible into ordinary shares of 2 pence each in the capital of the Company.
The initial conversion price shall be 6.105 pounds, representing a premium of 50% above the Clearing Price determined through the simultaneous placement of existing Ordinary Shares conducted alongside the Convertible Bond Offering.
Settlement and delivery of the Bonds is expected to take place on or about 6 August 2024. If not previously converted, redeemed or purchased and cancelled, the Bonds will be redeemed at par on 6 August 2029.
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