Tottenham Hotspur FC completes £637m stadium refinancing

A picture shows a general view of the exterior of the new Tottenham Hotspur Stadium in London March 30, 2019. — AFP pic
A picture shows a general view of the exterior of the new Tottenham Hotspur Stadium in London March 30, 2019. — AFP pic

LONDON, Sept 20 — Tottenham Hotspur Football Club has completed a £637 million (RM3.3 billion) stadium refinancing package that included a bond issue to US investors and a term loan, the company said in a statement.

The English football club said today it has raised £525 million from issue of long-term bonds to US investors through a private placement, and another £112 million 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 per cent, the club said in a statement.

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

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