Media: Tottenham ready to refinance £400 million of debt
21 August 2019
Spurs have started to refinance some of their debt burden from the Tottenham Hotspur Stadium.
According to the Athletic, Bank of America has launched a new private placement scheme to turn approximately £400 million of that debt into bonds.
Tottenham Hotspur borrowed £637 million from a consortium of Bank of America Merrill Lynch, Goldman Sachs and HSBC to pay for their new £1.2 billion stadium.
Now Spurs have decided to spread the financial burden by refinancing more than £400 million of bank debt, the Athletic reports.
According to the report, Bank of America reached out to institutional investors in the US last week after the bank launched a new private placement scheme to turn the £400 million into bonds with maturities ranging between 15 and 30 years.
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