23-01-2010, 08:03 AM
Another link with the bond issue and it's success.
http://www.telegraph.co.uk/sport/footbal...space.html
A few excerpts,
http://www.telegraph.co.uk/sport/footbal...space.html
A few excerpts,
Quote:The seven-year bond will run to Feb 1 2017, and the Glazers will have to begin making the first interest payments to investors in August this year, coinciding with the first slice of domestic television revenue.
Demand from US investors was stronger than anticipated however, and the US dollar issue of $425 million will offer a lower rate, 8.375 per cent, indicating the strength of interest.
The bond issue was twice oversubscribed, a level of interest that represents an endorsement of United’s financial position from the unsentimental investment community.