Ocado Group (GB:OCDO) has released an update.
Ocado Group plc has announced a new financing strategy involving the launch of a £350 million high yield bond offering and a £250 million offering of convertible bonds, both due in 2029. The proceeds from these offerings, along with existing cash reserves, are intended to fund the repurchase of part of the company’s outstanding bonds due in 2025 and 2026, aiming to reduce leverage and extend debt maturity profiles. However, there is no certainty that these financial transactions will be successfully completed.
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