Successful Refinancing Deal for Betfred

The Betfred Group acquired The Tote two and a half years ago for £265 million and has just announced a successful £200 million refinance deal. The Manchester Evening News reported on the repayment of Betfred's acquisition facilities plus £115 million in deferred consideration from the Government in a loan deal with Barclays, M&G Investments, Santander UK and Yorkshire Bank. The company'-s reputation lead the way to the transaction which also resulted in a spike in profits since ++acquiring The Tote. Fred Done, chairman of Betfred, said, “I am delighted to have secured this arrangement with Barclays, Santander UK, Yorkshire Bank and particularly pleased to have M&G Investments as a new partner.”