News: Tabcorp refinances debt

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Tabcorp Holdings Limited (ASX:TAH) has completed the refinancing of its debt facility which matures at the end of 2013.



The gaming company raised $US220 million of debt from a US private placement and refinanced $400 million of its existing syndicated bank facility.



Tabcorp’s chief says the US private placement and refinancing has extended Tabcorp’s debt maturity profile with diverse sources of funding.



Earlier this year, Tabcorp issued subordinated notes to retail investors in order to raise $200 million and  to extend its debt maturity profile.



In the first half of the 2012 financial year Tabcorp generated a net profit of $189 million.