Will Hill in New Cash-Raising Scheme

According to the UK and international land and online gambling group William Hill plc, its recently-launched fund-raising scheme should help it get its hands on around GBP 375 million in new capital from the issue of seven-year guaranteed corporate bonds.

The proceeds from the drive will be used 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 company further specified that the bonds will be available from June 5.

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