Man United raise 504m in bonds

Published : 22 Jan 2010 16:54:57

Manchester United have successfully raised £504m through a bond issue, which will cover most of what the club owe to international banks.The deal means the Premier League club will be able to pay off nearly all their outstanding debts of £509m. They will face an annual interest bill of £45m a year on the bonds. The sale comes after figures showed debts at the club's parent firm, Red Football Joint Venture, rose to £716.5m ($1.17bn) in the year to June 2009. Pounds and dollars The bond was.... read more