BRITAIN'S OCADO MOVES TO EXTEND ITS DEBT MATURITIES

Ocado, the British online supermarket and technology group, is extending the maturity of its debt by raising 600 million pounds ($771 million) in bonds due for 2029 repayment to finance a tender offer of existing bonds due in earlier years.

Ocado has also invited holders of its outstanding 0.875% senior unsecured convertible bonds due 2025 and 3.875% senior unsecured notes due 2026 to tender those securities. It said net proceeds from the new bond issues, together with cash from its balance sheet if needed, would be used to fund the tender offer.

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