RedBird Capital Partners, a contributor to Fenway Sports, has expressed interest but who is leading the race is…
Sporting, and specifically its debt, will be on the radar of RedBird Capital Partners, a shareholder in Fenway Sports, which owns Liverpool. According to ECO, this fund will have submitted a €100 million proposal to buy Sporting’s €240 million debt to BCP and Novobanco – which includes around €128 million in mandatory convertible securities (VMOC). However, the aforementioned source confirms, that the fund that includes basketball player LeBron James among its investors will have already left the race, and at the moment Sporting itself is the main candidate to buy back its debt, backed by the Apollo Fund. Unlike that, This information was already provided, last weekBy Bloomberg, a financial information specialist. In addition to Sporting, Bank of America and The Carlyle Fund will also have shown interest. It should be noted that Sporting has an ongoing subscription period for the bond loan launched by SAD, amounting to 30 million euros, whose public offering runs until 3pm on December 6. This issue has a fixed total interest rate of 5.25% per annum and starts from six million bonds, with a face value of five euros, the value of which can be increased by SAD until Tuesday. Moreover, the bond loan that was launched in the year 2018 has already started to be repaid.
By Ricardo Granada
Leave your comment
“Writer. Communicator. Award-winning food junkie. Internet ninja. Incurable bacon fanatic.”