Manchester United examine £600m bond issue

big thing

When did I say it was a big thing?

so what if your in science?
shifty

I wouldn't know much about the financial world. That being my point.

Im too lazy to type,
I'll post some other time

That means you know fuck all.

no ill post today

You came online at 6 in the morning to visit the gang? rofl

Don't you have better things to do?

Not the first time

It's the first time I noticed

your bad

You were going to post something, weren't you?

I just wanted to say if your in science then why did you say you have no idea about the financial world?
dont you read papers? biggrin

No. Only Sangram reads papers.

Man Utd blows £55m on bond - Times Online

Manchester United’s controversial bond issue has cost the Premier League football club £54m, it emerged this weekend.

The sum is more than the club would expect to have to pay to sign one of Europe’s top players.

As part of the £500m funds raised by United last week, the club has been forced to pay £15m in fees and expenses to investment bankers and lawyers.

It has also taken a £39m hit from the unwinding of interest rate hedging arrangements on the debt that has been refinanced by the bond. Although the owners, the Glazer family, have managed to defer payment of some liability, the club is still paying £11m of it upfront.

The disclosure that the bond issue has cost United so much is likely to further enrage fan groups, after it was revealed that the club is now saddled with debts of nearly £720m.

It would appear that Manchester United is not the only part of the Glazers’ business empire under pressure. An investigation by The Sunday Times has revealed that the family’s property business, First Allied, which mostly invests in shopping malls, is sitting on a 500,000 sq ft black hole.

First Allied, a key asset for the Glazers, owns smaller “community and neighbourhood” shopping malls across the US. Some of its centres, however, are a third empty, with vacant stores at sites in Virginia, Texas, Georgia and North Carolina.

Ryan Severino, economist at Reis, a property research firm, said vacancies at US shopping malls were at an 18-year high and portfolios like those of the Glazers were being especially hard hit.

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Fuck's sake! This keeps getting murkier!

Holy feck. :blink: