Britain's Ocado launches $642 million bond offering

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James Davey Reuters
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Credit: REUTERS/PETER NICHOLLS

British online grocer and technology company Ocado has launched a 500 million pounds ($642 million) bond issue, partly to finance capital expenditure related to its international partnership deals, it said on Monday.

LONDON, Dec 2 (Reuters) - British online grocer and technology company Ocado OCDO.L has launched a 500 million pounds ($642 million) bond issue, partly to finance capital expenditure related to its international partnership deals, it said on Monday.

The firm said the unsecured convertible bonds, due 2025, are expected to carry a coupon of between 0.75% and 1.25% per annum.

On Friday Ocado signed up Japan's biggest supermarket group, Aeon 8267.T, as its latest overseas technology partner.

(Reporting by James Davey; editing by Kate Holton)

((james.davey@thomsonreuters.com))

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