William Hill has announced that it is going to issue corporate bonds that are worth a total of 537 million dollars which is the equivalent of 375 million British Pounds. These corporate bonds are issued in order to attract attention from investors. This is all a part of the plan that the operator is currently working by in order to help the company payoff its bridge loans that were accumulated following the acquisition of Sportingbet Australia this last spring.

A big amount of the cash that is going to be raised from these corporate bonds will be used to pay off the Sportingbet Australia loans while the remaining 100 million pounds will be used in order to pay down its general debt. This is because William Hill is currently carrying almost 742 million pounds in debt. According to a statement by the gambling operator, the issuing of these bonds is going to enhance the company’s balance sheet as it will diversify the debt funding sources and it will also lengthen the borrowings’ maturity profile.

Over the last few years, the gambling operating has been aggressively making moves in order to shore up its local operations while taking great steps abroad. One of the biggest domestic moves was the acquisition of WHO (William Hill Online) by buying out the 29% stakes in WHO that belonged to Playtech for almost 424 million pounds. As for the US front, Will Hill is currently trying to land and make a presence in the market of Nevada.