WH Smith has said it plans to open 100 new travel stores after securing £325 million in financing to fund its growth plans.
The high street stalwart also said it has also identified around 300 potential sites for stores in hospitals across the UK.
It told investors on Wednesday afternoon that it has secured £325 million in convertible bonds, as well as a £250 million credit facility from its banks, which will mature in 2025.
WH Smith said that around £50 million from the new bond funding will be used to deliver its pipeline of travel stores over the next three years, as well as other expansion targets.