They had an expert on SSN earlier
What it means is the ?504m raised from the bonds will be used to pay off the clubs high interest banks loans along with paying the Glazers dividends and expenses.
Effectively, the clubs debt hasn't gone up or down, it just means they now owe the money to the people who have brought bonds as opposed to the banks.
They still have to pay interest on the bonds which is roughly 3 or 4 million pounds a year more than they were paying to the banks last season.
The bonds will have to be repaid in 2017, with Carrington and OT used as gaurentee.
I think thats right anyway lol
Posted By: Klobo04 on January 22nd 2010 at 19:29:56
Message Thread
- SSN: Man Utd have raised ?504m in their bond issue. (Other Football) - Klobo04, Jan 22, 18:23:10
- So does that mean they're now closer to ?900m in debt? (Other Football) - Ben, Jan 22, 19:12:04
- They had an expert on SSN earlier (Other Football) - Klobo04, Jan 22, 19:29:56
- David Conns pieces in the Guardian are pretty good on this (Other Football) - double hipness, Jan 22, 20:09:17
- Won't it? (Other Football) - pants, Jan 22, 19:14:07
- They had an expert on SSN earlier (Other Football) - Klobo04, Jan 22, 19:29:56
- So does that mean they're now closer to ?900m in debt? (Other Football) - Ben, Jan 22, 19:12:04
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