london (reuters) – the british food retailer online ocado intends to raise at least gbp 350 million (eur 396 million) via a bond issue designed to finance the development of its capabilities.
ocado, who signed last week a long-awaited agreement with an unnamed foreign retailer, reported monday a sharp increase in sales over a period of 22 weeks on 30 april.
the daily telegraph reported last month that the british marks & spencer was taught in partnership with ocado in food distribution.
ocado plans to raise at least 200 million by a debt security, which will be a priority for a second lifting of about 150 million pounds by means of modification and an extension of its revolving credit facility.
the distributor said in a statement that he wanted to take advantage of low financing costs in the debt market to develop longer-term funding and attractive conditions.
on 30 april, the group’s net foreign indebtedness distribution amounted to 98.7 million pounds sterling.
ocado also noted that gross retail sales increased by nearly a quarter to 600 million, and earnings before interest, tax, depreciation and amortization (ebitda) from 20.5% to 37.6 million pounds, while the increase in taxable income was 45.7% to 6.7 million pounds. however, the comparison was 20 weeks.
the saw tooth ocado changes since its introduction in the market to 180 pence in 2010. the title was 2.51%. at 11:00 gmt 282.4, showing a market capitalisation of $1.8 billion pounds.
(james davey, claude chendjou for service in french, edited by wilfrid exbrayat)
copyright & copy;, thomson reuters
Translated by forexguides.info Team