20th May 2016 14:26
LONDON (Alliance News) - William Hill PLC Friday said it has launched a GBP350 million corporate bond with institutional investors to refinance its existing debt and for general corporate purposes.
The gaming company said the bonds will be issued with a coupon of 4.875% and will mature in 2023.
William Hill said this will strengthen its balance sheet by lengthening the maturity profile of its borrowings, and once its GBP300 million in 7.125% guaranteed notes due 2016 have been repaid, will reduce its financing costs.
Shares in William Hill were up 1.2% at 309.70 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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