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William Hill to fully redeem £350 million of 4 7/8% notes due 2023
By Mary-Katherine Stinson
Lexington, Ky., July 20 – William Hill Ltd., formerly known as William Hill plc, will redeem and cancel its £350 million of 4 7/8% guaranteed notes due 2023 (ISIN: XS1412547660) on Aug. 8, according to a notice on Wednesday.
The notes will be redeemed at the gross redemption yield at 10 a.m. ET on that date of the 2¼% Treasury stock due September 2023 plus 50 basis points.
Accrued interest will also be paid to but excluding the redemption date.
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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