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Manchester United Refinance £178M Of Bonds

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2,78% Thanks Merv!


MANCHESTER, England--(BUSINESS WIRE)--May. 23, 2013-- MU Finance plc, a subsidiary of Manchester United plc [NYSE: MANU], has today issued a notice of redemption for all £177.78m of its outstanding sterling 8.75% bonds and $22.09m principal of its US dollar 8.375% bonds.

Funding for this bond redemption is to be provided by a committed new facility provided to MU Finance plc by Bank of America, N. A.

The interest rate payable under the new facility will be a variable rate calculated as Libor plus an applicable margin of between 1.5% and 2.75% per annum. The redemption will occur on June 24, 2013. If calculated today, we estimate that the starting rate of interest would be approximately 2.78%, resulting in an interest reduction of around £10m per year.

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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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