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