Tottenham refinance over half a billion pounds of stadium debt
20 September 2019
Tottenham Hotspur have refinanced a massive part of their debt into bonds.
Daniel Levy, Tottenham's chairman, says it won't affect their frugal transfer strategy and business plan.
Tottenham Hotspur have decided to refinance loans of over half a billion pounds, taken out to build their new stadium.
In order to support the construction of the £1.2 billion stadium, the club borrowed £637 million from Goldman Sachs, Bank of America and HSBC.
These loans were supposed to be paid back by April 2022, but this week the club have completed a private placement in the US that converted roughly £525 million of their debts into bonds with staggered maturities between 15 and 30 years.
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