Ladbrokes taps retail bond cash

 
Michael Bow
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BETTING firm Ladbrokes yesterday said it was venturing into the retail bond market with the launch of a new issue.

The bond, which has just over an eight year maturity, will pay a fixed rate of interest of 5.125 per cent. Barclays, Canaccord Genuity and Lloyds Bank are acting as joint lead managers on the issue.

Retail bond issues have had a quiet year so far, with Paragon’s issue in January the only other sizeable launch this year.