September 20, 2019 / 9:15 AM / 2 months ago

Tottenham Hotspur FC completes 637 million pound stadium refinancing

LONDON (Reuters) - Tottenham Hotspur Football Club has completed a 637 million pound ($798.67 million) stadium refinancing package that included a bond issue to U.S. investors and a term loan, the company said in a statement.

The English football club said on Friday it has raised 525 million pounds from issue of long-term bonds to U.S. investors through a private placement, and another 112 million pounds from a loan from Bank of America Merrill Lynch, who also managed the bond issue.

The refinancing package has an average maturity of 23 years and a weighted average coupon of 2.66%, the club said in a statement.

The company was originally targeting to raise 400 million pounds from the bond issue, a source told Reuters last month.

($1 = 0.7976 pounds)

Reporting by Abhinav Ramnarayan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below