Coronavirus: FC Porto propose postponing loan repayment
28 April 2020
The Portuguese club's board of directors has proposed postponing the repayment of a €35 million bond loan by one year.
Originally intending to pay the loan through a bond offer or transfer funds, the club say the move will not affect their obligations to other investors.
FC Porto's board of directors has proposed postponing the repayment of a €35 million loan for a year due to the impact of the coronavirus pandemic on their business.
"The measure is justified by the impact of the Covid-19 pandemic on the FC Porto group's activity and does not affect compliance with the obligation to pay interest to investors," the club said in a statement.
The club said they had planned to repay the loan through a new bond offering or by raising funds through player sales.
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