Allows Ladbrokes to diversify sources of debt finance
Ladbrokes plc's wholly-owned subsidiary Ladbrokes Group Finance plc (LGF) has announced the launch of a retail bond which will enable Ladbrokes to diversify its sources of debt finance and extend the maturity profile of its debt.
The 5.125 percent Sterling Bonds are available to wholesale and retail investors, are guaranteed by Ladbrokes, offer a fixed rate of interest of 5.125 percent per annum payable twice yearly and mature on September 16, 2022.
The Bonds are expected to be listed on the UK Listing Authority's Official List and admitted to trading on the London Stock Exchange's regulated market and through the electronic Order Book for Retail Bonds (ORB).
A minimum initial subscription amount of GBP 2 000 is required and are available in multiples of GBP 100 thereafter. Investors are permitted to sell the bonds at any time during the period to maturity on the open market through their stockbroker.
Barclays Bank PLC, Canaccord Genuity Limited and Lloyds Bank plc will act as Joint Lead Managers on this issue.
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