G
General Veers
Guest
Singapore
Home > Breaking News > Singapore > Story
Jan 13, 2010
Man U in town for funds
Manchester United bonds on offer to investors here
<!-- by line --> By Gabriel Chen
<!-- end by line -->
<!-- end left side bar -->
Manchester United players during an English Premier League match last year. The club has a $1.6 billion debt but it is the world's most profitable football club. It hopes to trim its debt by wooing financial institutions and wealthy investors to take up its bonds. -- PHOTO: REUTERS
<!-- story content : start -->
FANCY owning a piece of Manchester United? Cough up at least US$100,000 (S$140,000) and you can be a player - in a financial sense anyway. A delegation from the famous English football club was in town on Tuesday to put just such a gameplan to about 50 to 60 fund managers who help manage portfolios and assets of the wealthy. The aim of the road show, which took place at a private and exclusive luncheon at the Ritz Carlton yesterday, was to woo financial institutions and attract investment so that the club can reduce its huge debt load of 699 million pounds (S$1.6 billion). The club would normally borrow from banks but the credit crunch has forced many financial institutions to either curb lending or charge crippling interest rates. Like a crafty centre forward, United has changed direction and is out to sell 500 million pounds worth of bonds to investors across the world. The delegation will host sales pitches in London, Paris, Frankfurt and Zurich next before heading to the United States.
Read the full story in Wednesday's edition of The Straits Times.
[email protected]
Home > Breaking News > Singapore > Story
Jan 13, 2010
Man U in town for funds
Manchester United bonds on offer to investors here
<!-- by line --> By Gabriel Chen
<!-- end by line -->
<!-- end left side bar -->
Manchester United players during an English Premier League match last year. The club has a $1.6 billion debt but it is the world's most profitable football club. It hopes to trim its debt by wooing financial institutions and wealthy investors to take up its bonds. -- PHOTO: REUTERS
<!-- story content : start -->
FANCY owning a piece of Manchester United? Cough up at least US$100,000 (S$140,000) and you can be a player - in a financial sense anyway. A delegation from the famous English football club was in town on Tuesday to put just such a gameplan to about 50 to 60 fund managers who help manage portfolios and assets of the wealthy. The aim of the road show, which took place at a private and exclusive luncheon at the Ritz Carlton yesterday, was to woo financial institutions and attract investment so that the club can reduce its huge debt load of 699 million pounds (S$1.6 billion). The club would normally borrow from banks but the credit crunch has forced many financial institutions to either curb lending or charge crippling interest rates. Like a crafty centre forward, United has changed direction and is out to sell 500 million pounds worth of bonds to investors across the world. The delegation will host sales pitches in London, Paris, Frankfurt and Zurich next before heading to the United States.
Read the full story in Wednesday's edition of The Straits Times.
[email protected]
