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Ocado Group Plc announced on 13th June 2025 that it has drawn down on a Letter of Credit for US$152m, issued by the Bank of Nova Scotia. This drawdown occurred as the Letter of Credit, established as part of a 2018 partnership with The Kroger Co. to provide capital for Ocado's investment in the Kroger online business, reached its seven-year maturity date.
| Date | 13 Jun 2025 |
| Time | 07:00:08 |
| Category | Miscellaneous |
| ID | 6814M |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Ocado Group Plc
13th June 2025
Ocado Group Plc
Letter of Credit Draw Down
Ocado Group plc ("Ocado") announces that it has today drawn down on a Letter of Credit for US$152m issued by the Bank of Nova Scotia.
The creation of the partnership between Ocado and The Kroger Co. ("Kroger") in 2018 included an arrangement for a Letter of Credit that would provide a capital contribution to Ocado in respect of its investment in the Kroger online business.
The Letter of Credit included a maturity date of seven years from the signing of the agreement. With the maturity date now reached, Ocado has drawn down on the Letter of Credit.
Ocado will release its FY25 Half Year Preliminary Results on 17th July.
Contacts
Stephen Daintith, Chief Financial Officer on +44 1707 228 000
Nick Coulter, Capital Markets and FP&A Director on +44 1707 228 000
Jamie Kerr, Global Head of Communications on +44 1707 228 000
Lucy Legh, Headland Consultancy on +44 (0) 20 3805 4822 (ocadogroup@headlandconsultancy.com)
Person responsible for arranging the release of this announcement:
Neill Abrams
Group General Counsel and Company Secretary
Ocado Group plc
Buildings One & Two, Trident Place, Mosquito Way,
Hatfield, Hertfordshire AL10 9UL
email: company.secretary@ocado.com
Ocado Group plc LEI: 213800LO8F61YB8MBC74