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Ocado talks £200 million seven-year secured notes at 4½% area; pricing Wednesday
By Paul A. Harris
Portland, Ore., June 13 – British online grocer Ocado talked its £200 million offering of seven-year senior secured notes (Ba2//BB) to yield in the 4½% area, according to a market source.
The deal is expected to price on Wednesday.
Barclays, HSBC, Goldman Sachs, Royal Bank of Scotland and RABO are managing the offering.
The notes come with three years of call protection.
The Hatfield, England-based company plans to use the proceeds to refinance debt.
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