Redemption: 2027-06-15; Registration: Reg S Only; Comments: B&D: BRC;
Deal Comments
Ocado Group plc (OCDOLN) GBP300m Reg S sr notes due 06/15/30 (5y). NC2 (06/15/27) (MWC G+50bp), then at 105.50, 102.25, 100. B3/NR/B- (stable/--/stable). Via Barc (B&D)/BNP jt physical books/DB jt glocos/GS/JPM/NatWest jt books. List Dublin. NY law. Settles 05/08 (T+4). ISIN: XS3044275231. IPT: 10.75%-11.00%. Price talk: 11.00%.
Priced: 11.00% at 100. +722bp vs UKT 0.375% 10/22/30.
Did Virtual roadshow 04/29-30 (investor call at 1pm UKT 04/29). Books closed at 1:30pm UKT 05/01. UOP: fund the tender offer for its GBP172.8m 0.875% gtd sr cvt bonds due 12/09/25 (purchase price 97.375), and GBP223.584m 3.875% gtd sr notes due 10/08/26 (purchase price 98.625), Barc/BNP dealer managers. Biz: a technology-led, global, software and robotics platform business, serving grocery retailers. HQ: Hatfield, UK.
Netroadshow: https://urldefense.com/v3/__https:/www.netroadshow.com/events/login?show=9dc9f44e&confId=80377__;!!G7x19LdBoP0e!nlHB6kS5AHPHkJ4CA6O4LdQbgD3jtm2PTTlqFkTYuKQF4QctWBFgzIyKx2mA7xKNfY1vdwO5Ds-yYAtx18ix$