Additional £15 million convertible bond issued for Sportingbet Plc

Additional £15 million convertible bond issued for Sportingbet Plc

Together, Chrystal Capital and convertible debt specialist ISM Capital closed on an additional £15 million convertible bond issue for LSE listed Sportingbet Plc, the online sports betting service. 

Sportingbet intends to use the proceeds of the issue to meet its Spanish tax liabilities, having recently been awarded a new spanish eGaming licence. 

This £15 million convertible bond issue follows £65 million raised for Sportingbet via convertible bonds in May 2011 through the joint venture between Chrystal Capital and convertible debt specialist ISM Capital. 

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