Cazoo updates methodology for settlement of exchange offer

London & new york--(business wire)--cazoo group ltd (nyse: czoo) (“cazoo” or “the company”), the uk online used car retailer, which makes buying and selling a car as simple as ordering any other product online, announces an update to the methodology for settlement of the exchange of $630 million aggregate principal amount of 2.00% convertible senior notes due 2027 (the “convertible notes”) for a pro rata portion of (1) $200 million aggregate principal amount of 4.00%/2.00% cash/payment-in-kind.
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