Please note this is the historical investor centre. William Hill is no longer listed on the London Stock Exchange. It has been acquired by Caesars Entertainment Inc.
William Hill launched a corporate bond to institutional investors on 5 June 2013 to raise approximately £375m from the issuance of guaranteed bonds.
The proceeds of the seven-year bonds were used to repay £275m of short term bridge loans taken on to part fund the acquisition of the Sportingbet Australia business and the acquisition of Playtech’s 29% stake in William Hill Online. The remainder of the proceeds was used to clear down outstanding amounts under the Group’s revolving credit facility.
The issue of the bonds further strengthens the Group’s balance sheet by diversifying its sources of debt funding and lengthening the maturity profile of its borrowings. The bonds were issued with a coupon of 4.25% in an aggregate principal amount of £375m. The Group’s last published net debt for covenant purposes was £742m as at 2 April 2013. William Hill has corporate credit ratings from Moody's and Standard & Poor’s of Ba1 stable and BB+ stable, respectively.