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Entain calls Ladbrokes’ £400 million 5 1/8% notes due 2023
By Marisa Wong
Los Angeles, July 5 – Entain plc has issued a conditional notice of redemption for any and all of subsidiary Ladbrokes Group Finance plc’s outstanding £400 million 5 1/8% guaranteed notes due 2023, according to a Tuesday press release.
Entain will redeem the notes in full on July 20 at par plus accrued interest for an aggregate amount of £407,464,672.
The redemption will be funded with proceeds from term loans. The redemption is conditioned on this financing.
Entain is an Isle of Man-based sports betting and gaming company.
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