Ladbrokes 5.125 2022's and 2023's

In case not already seen, holders of the Ladbrokes bonds might like to consider the RNS, below, from earlier this week.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/LAD2/13531678.html

Comments

  • Is anyone able to give us a plain English translation of what that means?
  • Yes, basically we need to consent to the takeover. GVC Holdings PLC, will now take on the bonds. Given the price action, its a fairly safe bet GVC Holding has a better credit rating that Ladbrokes alone, so I happy to consent. Just got a call from my stockbroker to hurry me along.
  • I have voted in favour - agree with Paddy's assessment of new owner. no point in voting against. If one doesn't like to merger sell the bonds.

    A 30bp sweetner to vote yes is quite generous (in the markets these things used to have no sweetner or only 5-10bp)

    HL were v efficient for me with an email and one click button on the website

  • Selftrade emailed me on the 15th, but Youinvest have said they will contact me in the next few days about the options available.
  • You need to chase up YouInvest, the deadline is in the next couple of days depending on your broker, the hard deadline is Friday
  • According to the document kindly posted by zephyr :

    23 February 2018 (4:00 p.m.)......................

    "2023 Consent Fee Deadline" for the 2023 Noteholders to deliver completed Electronic Voting Instructions in favour of the Consent to the Clearing Systems in order to receive the Consent Fee.

    6 March 2018 (4:00 p.m.).............................

    "2022 Consent Fee Deadline" for the 2022 Noteholders to deliver completed Electronic Voting Instructions in favour of the Consent to the Clearing Systems in order to receive the Consent Fee.

    I only hold the 2022 notes, so I should be ok !
  • YouInvest now has it on their system as a "Corporate Action"
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