09/30/2021 Ocado Group plc (OCDOLN) GBP500m (up from GBP450m and GBP400m) 144A/Reg sr notes due 10/08/26 (5y). NC2 (MWC G+50bp), then at 101.93750, 100.96875, 100. Equity claw: 2y 40% at 103.875. B2/NR/BB- (stable/--/stable). Via Citi (B&D)/GS/JPM as jt glocos/Barc/BNP/HSBC jt books. No reg rights. List Dublin. NY law. Settles 10/08 (T+6). Reg S ISIN: XS2393761692. IPT: 4.00%-4.25%. Px talk: 3.875%-4.00%. Launched at GBP500m at 3.875%. Priced: 3.875% at 100. +324bp vs UKT 0.375% 10/11/26.
Virtual roadshow in Europe started 09/27 (Citi coordinated logistics). Did investor call at 10:30am UKT 09/30. Books closed at 2pm UKT 09/30. Recommits were due by 3:15pm UKT 09/30. UOP: redeem its GBP225m 4.00% sr sec notes due 06/15/24 (callable at 101.00) and GCP, including capex (GBP100m upsize for GCP). Biz: on-line grocery retailer. HQ: Hatfield, UK.