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William Hill sets redemption price for 4 7/8% notes due 2023
By Mary-Katherine Stinson
Lexington, Ky., Aug. 5 – William Hill Ltd., formerly known as William Hill plc, announced the price for the Aug. 8 redemption of its £350 million of 4 7/8% guaranteed notes due 2023 (ISIN: XS1412547660), according to a notice on Friday.
On Aug. 4 the redemption price was determined to be £1,025.18 per £1,000 principal amount of the notes. The redemption price was determined in accordance with the conditions of the bonds with accrued interest of £20.40 per each £1,000 of notes.
As previously reported, the calculation was based on the gross redemption yield at 10 a.m. ET on Aug. 4 of the 2¼% Treasury stock due September 2023 plus 50 basis points.
Law Debenture Trust Corp. plc is the trustee for the notes.
Conv-Ex Advisors Ltd. has been appointed as financial adviser for the transaction.
The issuer is a London-based bookmaking operation.
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