British online grocer and technology company Ocado has launched a £500 million (€586 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.
'Settlement and delivery of the Bonds is expected to take place on or about 9 December 2019,' Ocado said in a statement. 'If not previously converted, redeemed or purchased and cancelled, the Bonds will be redeemed at par on 9 December 2025.'
On Friday, Ocado signed up Japan's biggest supermarket group, Aeon, as its latest overseas technology partner.