William Hill launches £350 million notes due 2023 with 4 7/8% yield; pricing Friday

By Paul A. Harris

Portland, Ore., May 20 – William Hill plc launched a £350 million offering of senior notes due Sept. 7, 2023 (expected ratings Ba1/BB+) with a yield of 4 7/8%, a market source said on Friday.

The deal is set to price on Friday.

Active bookrunner Royal Bank of Scotland will bill and deliver for the Regulation S offering. Lloyds and Santander are also active bookrunners. Barclays and Mediobanca are passive bookrunners.

The London-based bookmaking operation plans to use the proceeds for general corporate purposes, including debt repayment.

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