Loan & DebtJun 12, 2026, 07:01 AM
Manchester United Issues New Notes, Refinances Debt, Extends Term Facility
AI Summary
Manchester United plc announced the issuance of new Notes, which are unconditionally guaranteed and secured. The company intends to use the proceeds to prepay its existing 3.79% Senior Secured Notes due June 26, 2027, and for general corporate purposes. Additionally, an indirect wholly-owned subsidiary, Red Football Limited, amended its Term Facility Agreement and Revolving Facility Agreement, extending the maturity of the term facility from August 6, 2029, to June 10, 2031, and aligning covenants across agreements.
Key Highlights
- New Notes issued, unconditionally guaranteed and secured against certain assets.
- Proceeds from new Notes to prepay outstanding principal of 2027 Notes.
- Proceeds also allocated for general corporate purposes.
- Term facility maturity extended from August 6, 2029, to June 10, 2031.
- Term and Revolving Facility Agreements amended to align covenants with Note Purchase Agreement.
Price Impact
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