By Paul A. Harris
Portland, Ore., May 27 - Ladbrokes Group Finance plc priced a £100 million issue of non-callable senior notes due Sept. 15, 2022 (/BB/BB) at par to yield 5 1/8% on Tuesday, according to an informed source.
The deal was launched with a 5 1/8% coupon.
Books closed early. The deal was announced on May 27, with a subscription period scheduled to last until June 10. The deal targeted retail and wholesale investors in the United Kingdom, the Isle of Man and the Channel Islands.
Joint bookrunner Lloyds Bank will bill and deliver. Barclays and Canaccord are also joint bookrunners.
The Regulation S notes are scheduled to settle on June 16, and will be listed with the London Regulated Market and the London Stock Exchange order book for retail bonds.
The issuer is a Harrow, Middlesex, England-based gaming company.
| Issuer: | Ladbrokes Group Finance plc
|
| Amount: | £100 million
|
| Maturity: | Sept. 16, 2022
|
| Securities: | Senior notes
|
| Bookrunners: | Lloyds Bank (bill and deliver), Barclays, Canaccord
|
| Coupon: | 5 1/8%
|
| Price: | Par
|
| Yield: | 5 1/8%
|
| Call protection: | Non-callable
|
| Trade date: | June 3
|
| Settlement date: | June 16
|
| Ratings: | Standard & Poor's: BB
|
| Fitch: BB
|
| Distribution: | Regulation S
|
| Marketing: | Book building subscription period
|
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