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Ladbrokes completes £1.35bn financing for Coral mega-merger

9th October 2015 7:38 am GMT

London-listed operator Ladbrokes has secured £1.35bn in financing from a syndicate of relationship banks for its proposed merger with Gala Coral.

The new facility is subject to the merger’s completion and comes in three parts, a £600m term facility, a £400m revolving credit facility, and a second revolving credit facility of £350m.

“I am pleased that our relationship banks have shown strong support in putting in place a significant size facility at similar pricing to our current facilities,” outgoing Ladbrokes chief financial [...]

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