Commentary & Deal Flow

Ocado Group plc (OCDOLN) announced today that it has agreed to issue via a private placement a GBP100m add-on to its GBP300m Reg S 11% 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). List Dublin. NY law. Original ISIN: XS3044275231. The original notes were priced 05/01/25. The add-on will be placed at 100. UOP: repurchase GBP80m of its 0.875% gtd sr cvt bonds due 12/09/25 at a purchase price 97.375 (after which only GBP55.8m will remain outstanding). Biz: a technology-led, global, software and robotics platform business, serving grocery retailers. HQ: Hatfield, UK.