Subscribe to our e-newsletter
Follow us on Twitter
Privacy and cookies
Established 1996
Friday 06 December 2019


Ocado launches £500m bond to fund geographic expansion

Written by Peter Walker

Ocado is launching a £500 million bond issue to help fund the expansion of its robotic automated warehouses in other countries.

The online grocer told potential investors that its unsecured convertible bonds, which are due in 2025, will pay out a coupon rate of between 0.75 per cent and 1.25 per cent every year.

A statement also noted that its retail revenue growth for the 13 weeks to 1 December was set to rise by between 10 and 11 per cent.

Last week, Ocado confirmed a £7 billion partnership with Japanese food retailer Aeon. It also revealed plans to open its first ‘mini’ fulfilment centre in Bristol by the end of 2020 or early 2021.

The company said it plans to spend the funds raised from the bond issue to “fund capital expenditure in relation to Ocado Solutions”, the arm which sells automated warehouse technology to third party retailers.


RS Winners brochure

Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.

Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.
Most read stories...
World Markets (15 minute+ time delay)