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November 25, 2009

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Gaming company raises $700 million in U.S. debt sale

Thursday, Dec. 23, 2004 | 9:39 a.m.

Tabcorp Holdings Ltd., Australia's biggest gaming company, raised $700 million in a U.S. debt sale to fund its acquisition of Tab Ltd.

The offer was increased to $700 million from an initial plan to raise $150 million because of demand and is the biggest U.S. private debt sale by an Australian company, Melbourne-based Tabcorp said in a statement.

The issue comprises four portions, each maturing between 10 to 15 years with $199.5 million due in 2014, $263.5 million in 2016, $162 million in 2019 and A$100 million ($76 million) due in 2019, it said.

The sale was managed by Barclays Capital, a unit of Barclays Plc and UBS Investment Bank, a unit of UBS AG. The stock added 25 cents, or 1.5 percent, to A$17.39 at 1:50 p.m. in Sydney.

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