WHSmith completes refinancing ahead of high street store sale plans

WHSmith has secured £320m from US investors and through a new bank loan, as part of its strategy to expand its global travel retail business and explore options for its UK high street stores.
The company today confirmed the successful completion of a £200m US Private Placement (USPP) note issue and a £120m bank term loan.
These USPP notes mark WHSmith’s first-ever move into the US market, with maturities of seven, ten, and twelve years, issued on investment grade terms.
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