Betfred has completed a £195 million refinancing package, the company announced.
The refinancing comes ahead of it £55.5 million acquisition of 322 retail betting shops from newly merged Ladbrokes Coral. The debt package was supported by four UK banks—RBS, Barclays, Lloyds and Yorkshire Ban. Auditor KPMG acted as lead debt advisory for the operator.
“It was great to have strong support from the local banking community to support the company in this significant transaction,” said Nicola Barr, Financial Director at Betfred in a press statement.
In October Betfred won a for Ladbrokes and Coral shops which were required to be sold by British regulators as the companies merged to protect industry competition standards.
