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BREAKING NEWS

Tottenham Hotspur FC completes £637 million stadium refinancing

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LONDON (Reuters) – Tottenham Hotspur Football Club has completed a 637 million pound 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.

(Reporting by Abhinav Ramnarayan)

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