
Swindon-based WH Smith has successfully agreed new
bank financing arrangements and launched a bond offering of £325m. WH
Smith has separately announced its interim results.
This will provide £50m
of new capacity for WH Smith to fund the opening of about
100 new travel location stores over the next three years and
also new growth opportunities. The remainder of the proceeds will be
used to partially pay down existing £400m term loans.
The company has continued to improve
its underlying cash burn with a free cash outflow in the
six-month period to 28 February.