Bond plan for William Hill

William Hill has launched a scheme to raise around £375m from the issue of guaranteed corporate bonds.

The proceeds of the seven-year bonds will be used to repay £275m of short-term loans taken to part-fund the acquisition of Sportingbet Australia and to buy out Playtech’s 29 per cent stake in William Hill Online.

The bonds are expected to be issued on or about June 5, 2013.