William Hill in drive to raise more cash

The top UK and international land and online gambling group William Hill plc has announced the launch of a scheme which will help the company raise around GBP 375 million in new capital from the issue of seven-year guaranteed corporate bonds.

The company plans to use the proceeds of the drive to repay GBP 275 million in short-term loans taken to part-fund the acquisition of Sportingbet Australia, and to buy out Playtech’s 29 percent stake in William Hill Online .
The bonds will be available from June 5.

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