Taking advantage of the lower interest rates prevalent in today’s markets, Manchester United have managed to refinance their remaining 2010 debt. They were paying an interest rate of 8.375 per cent, but will now pay 3.79 per cent.
This will bring about a reduction of $10m a year in interest payments which are anticipated to reduce to four per cent of their total revenue in the 2015 fiscal year.
Taking advantage of the lower interest rates prevalent in today’s markets, Manchester United have managed to refinance their remaining 2010 debt. They were paying an interest rate of 8.375 per cent, but will now pay 3.79 per cent.
This will bring about a reduction of $10m a year in interest payments which are anticipated to reduce to four per cent of their total revenue in the 2015 fiscal year.