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Tabcorp completes $1.4bn refinancing of Tatts acquisition facility

23rd March 2018 10:04 am GMT

Sydney-listed Tabcorp Holdings has priced a new USD$1.4bn issue of long-term notes to US investors.

The notes will be used to repay the AUD$1.8bn bridge financing facility put in place last year to fund Tabcorp's acquisition of Tatts Group, and to repay existing bank debt.

The notes will be issued in four US dollar-denominated tranches totalling $1.25bn, and two Australian dollar-denominated sums totalling AUD$195m (USD$150m). The US dollar proceeds will then be swapped [...]

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