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, Jan 22, 19:29:56