Ocado - comment

Ocado aims to avoid costly equity issuance for now and prefers high-coupon, non-dilutive debt. Today’s transaction will increase the interest bill by £10m per year, not an insignificant amount but entirely manageable. The HY private placement substantially removes any maturity risk from the Dec 25 Convertibles, with the outstanding amount dropping from £173m to £56m.

https://www.ocadogroup.com/investors/regulatory-news

Aengus McMahonOCADO