Spursex
Alert Team
-Spurs/BofA currently selling c£400m of bonds to insurance firms in the US after a conference call last week. Long term maturities, taking advantage of low interest rates. Helps to secure financial future of the club. -
As I said repeatedly we would do to all the doomsters who thought the stadium debt would bury us forever, we've achieved a private placing and there is a big appetite for more.
https://theathletic.co.uk/1140866/2...for-tottenham-as-they-refinance-400m-of-debt/
So of the six hundred mill or so of debt we;re currently carrying -
Bank of America has launched a new private placement scheme to turn roughly £400 million of that debt into bonds with staggered maturities ranging between 15 and 30 years.
While this deal will not immediately decrease the level of Tottenham’s net debt, which is approaching £600 million, it will relieve the immediate pressure for Tottenham to pay the money back in less than three years’ time.
It will also lead to lower repayments as the bonds will attract much lower interest than the project finance.
This placing may well pathe the the way for a future private share placing / fund raising.
As the Football side is now almost in full swing it will also allow us to concentrate on developing the other commercial revenues, which together will mean a bigger drop down to the bottom line which allows us to project and underpin revenues with greater confidence leading to the ability to settle higher contracts and pay bigger buying fees - as we are now doing, exactly as I said we would.
As I said repeatedly we would do to all the doomsters who thought the stadium debt would bury us forever, we've achieved a private placing and there is a big appetite for more.
https://theathletic.co.uk/1140866/2...for-tottenham-as-they-refinance-400m-of-debt/
So of the six hundred mill or so of debt we;re currently carrying -
Bank of America has launched a new private placement scheme to turn roughly £400 million of that debt into bonds with staggered maturities ranging between 15 and 30 years.
While this deal will not immediately decrease the level of Tottenham’s net debt, which is approaching £600 million, it will relieve the immediate pressure for Tottenham to pay the money back in less than three years’ time.
It will also lead to lower repayments as the bonds will attract much lower interest than the project finance.
This placing may well pathe the the way for a future private share placing / fund raising.
As the Football side is now almost in full swing it will also allow us to concentrate on developing the other commercial revenues, which together will mean a bigger drop down to the bottom line which allows us to project and underpin revenues with greater confidence leading to the ability to settle higher contracts and pay bigger buying fees - as we are now doing, exactly as I said we would.
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