Ocado announces agreement for new £300 million revolver

Chicago, June 21 – Ocado Group plc announced that it has an agreement on a new £300 million revolving credit facility provided by a syndicated of international banks, according to an announcement.

Details were sparse on the bank loan, but the company is also working to place new ordinary shares for approximately £575 million.

The company plans to use the funds for growth.

Ocado is a U.K.-based grocery logistics firm.

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