TIDMOCDO
RNS Number : 6489N
Ocado Group PLC
01 October 2021
Ocado Group PLC
01 October 2021
NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN,
SOUTH AFRICA OR AUSTRALIA.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF OCADO GROUP PLC. PLEASE SEE THE IMPORTANT
NOTICE BELOW.
OCADO GROUP PLC
Successful Upsizing and Pricing of GBP500 million Senior Notes
due 2026
Further to the announcement of 27 September 2021, Ocado Group
plc ("Ocado") today announces that it has successfully priced an
offering of GBP500 million Senior Notes due 2026 at a coupon of
3.875% ("the Offering") and an issue price of 100%. Due to strong
demand, the Offering was upsized from the originally anticipated
size of GBP400 million. 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% Senior Secured Notes due 2024 (the "Existing
Notes") (such redemption, together with the Offering, the
"Financing Transactions"). This announcement does not constitute a
notice of redemption with respect to the Existing Notes nor an
offer to tender for, or purchase, any Notes or any other
security.
These Financing Transactions are intended to extend the maturity
profile of Ocado's debt by refinancing the Existing Notes and to
provide additional funding to be used principally for capital
expenditure.
Contacts
Stephen Daintith, Chief Financial Officer on +44 (0)20 7353 4200
or +44 (0)1707 228 000
David Shriver, Director of Communications, on +44 (0)20 7353
4200 or +44 (0)1707 228 000
Martin Robinson at Tulchan Communications on +44 (0)20 7353
4200
Further information about Ocado is available on its website at
www.ocadogroup.com.
Important Notice
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
assumptions and are subject to a number of risks and uncertainties
that could cause actual events or results to differ materially from
any expected future events or results expressed or implied in these
forward-looking statements. Persons receiving this announcement
should not place undue reliance on forward-looking statements.
Unless otherwise required by applicable law, regulation or
accounting standard, Ocado does not undertake to update or revise
any forward-looking statements, whether as a result of new
information, future developments or otherwise.
These materials are not an offer of securities for sale in the
United States. The securities referred to herein have not been, and
will not be, registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold in
the United States absent registration or an exemption from
registration under the Securities Act. There is no intention to
register any securities referred to herein in the United States or
to make a public offering of the securities in the United States.
Any securities sold in the United States will be sold only to
qualified institutional buyers (as defined in Rule 144A under the
Securities Act) pursuant to Rule 144A.
This announcement has been prepared on the basis that no offer
of securities will be directed to retail investors in the EEA. For
these purposes, a "retain investor" means a person who is one (or
more) of: (i) a retail client as defined in point (11) of Article
4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a
customer within the meaning of Directive 2016/98/EU (as amended),
where that customer would not qualify as a professional client as
defined in point (10) of Article 4(1) of MiFID II. Consequently no
key information required by Regulation (EU) No. 1286/2014 (as
amended, the "PRIIPs" Regulation") for offering or selling the
securities referred to herein or otherwise making them available to
retail investors in the EEA has been prepared and therefore
offering or selling, or otherwise making available, the securities
referred to herein to any retail investor in the EEA may be
unlawful under the PRIIPs Regulation.
This announcement has been prepared on the basis that any of
securities will not be directed to retail investors in in the
United Kingdom. For these purposes: (a) the expression retail
investor means a person who is one (or more) of the following: (i)
a retail client, as defined in point (8) of Article 2 of Regulation
(EU) No 2017/565 as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018 (the "EUWA"); or (ii) a
customer within the meaning of the provisions of the Financial
Service and Markets Act 20000 (the "FSMA") and any rules or
regulations made under the FSMA to implement Directive (EU)
2016/97, where that customer would not qualify as a professional
client, as defined in point (8) of Article 2(1) of Regulation (EU)
No 600/2014 as it forms part of domestic law by virtue of the EUWA.
Consequently no key information document required by Regulation
(EU) No 1286/2014 as it forms part of domestic law by virtue of the
EUWA (the "UK PRIIPs Regulation") for offering or selling the
securities referred to herein or otherwise making them available to
retail investors in the United Kingdom has been prepared and
therefore offering or selling, or otherwise making available, the
securities referred to herein to any retail investor in the United
Kingdom may be unlawful under the UK PRIIPs Regulation.
This announcement is directed solely at, persons who (i) are
outside the United Kingdom, (ii) are investment professionals, as
such term is defined in Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005, as amended (the
"Financial Promotion Order"), (iii) are persons falling within
Article 49(2)(a) to (d) of the Financial Promotion Order, or (iv)
are persons to whom an invitation or inducement to engage in
investment activity (within the meaning of Section 21 of the
Financial Services and Markets Act 2000 in connection with the
issue or sale of any of the securities referred to herein may
otherwise be lawfully communicated or caused to be communicated
(all such persons together being referred to as "relevant
persons"). This announcement is directed only at relevant persons
and must not be acted on or relied on by persons who are not
relevant persons. Any investment or investment activity to which
this announcement relates is available only to relevant persons and
will be engaged in only with relevant persons.
In connection with the offer of securities referred to above,
the Stabilising Managers may over-allot the securities or effect
transactions with a view to supporting the market price of the
securities at a level higher than that which might otherwise
prevail. However, there can be no assurance that the Stabilising
Managers will take any stabilisation action, and any stabilisation
action, if begun, may be ended at any time. Any stabilisation
action or over-allotment shall be conducted in accordance with all
applicable laws and rules.
Announcement Information
Person responsible for arranging release of this
announcement:
Neill Abrams
Company Secretary
Ocado Group plc
Buildings One & Two
Trident Place, Mosquito Way
Hatfield, Hertfordshire
AL10 9UL
Fax: +44 (0)1707 227 997
email: company.secretary@ocado.com
Ocado Group plc LEI: 213800LO8F61YB8MBC74
END
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STRDBGDCBDXDGBG
(END) Dow Jones Newswires
October 01, 2021 02:00 ET (06:00 GMT)
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