Ocado Group (GB:OCDO) has released an update.
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Ocado Group plc is set to raise approximately £600 million through a mix of a Convertible Bond Offering of £250 million and a High Yield Offering of £350 million, with the intent to extend the maturity profile of its debt and invest in the company’s growth plans. The proceeds will also fund a Tender Offer for existing securities and reduce leverage over time. The announcement follows Ocado’s positive H1 earnings report, signaling strong financial and operational progress with a revenue growth of 12.6% and raised FY24 margin guidance.
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