Tabcorp prices $1.4 billion notes issue

Company News

by Rachael Jones

Tabcorp Holdings (ASX:TAH) has priced a $1.4 billion issue of long-term notes to investors in the US private placement market.

The horse-race gambling company was given the green light for its $11 billion merger with lottery operator Tatts Group in June last year, and completed the $4.7 billion integration in December.

The US dollar proceeds from the Notes will be swapped into Australian dollars with a total funding of $1.82 billion.

This will be used by Tabcorp to repay the $1.8 billion bridge financing facility put in place in connection with the combination with the Tatts Group and to repay existing debt.

Shares in Tabcorp Holdings (ASX:TAH) are trading 0.91 per cent lower to $4.36
  

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.