Manchester United bonds hit by City
Wednesday 3rd February 2010
Manchester United only launched their £500million bond issue a fortnight ago yet already it is among the market’s worst performers this year.
According to the Financial Times, the bid price of Manchester United’s £250million of sterling denominated bonds is now just 93% of their face value.
The US $425million dollar-denominated bonds fare little better, falling to 94.5% of face value.
Over pricing and lack of credit rating are blamed.
Click here to read full report in the FT.
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