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Porto Club: SAD increases its bond loan to € 70 million

Porto Club: SAD increases its bond loan to € 70 million

FC Porto Football Club reported Monday to CMVM (the Securities Market Authority) that it has increased the value of the bond loan to € 70 million, a loan that will last until May 21.

“Until the end of the day, May 17, 2021, subscription intentions have been collected, consisting of 2,362 applications, which corresponds to a total amount of 48,282,070 euros (69% of the total bid value), taking into account the increase up to 14 , 000,000 (fourteen million) of the number of bonds to be issued and the world face value of the offer of 70,000,000 euros (seventy million euros) »can be read in the note sent by the Dragons.

Now to confirm that this € 70m loan will be fully subscribed until May 21, this will be the largest bond loan in Portuguese football history, surpassing Benfica’s € 60m loan launched in 2017.

For FC Porto SAD, in fact, gold will be blue, as it will allow the repayment of two bond loans due this year 2021, after the repayment of one of them was postponed last year, delaying the problem for the time being. It is precisely for this reason that FC Porto announced the launch of two loans, not one. However, if the full € 70 million subscription is confirmed, the second subscription will not be necessary.

“The applications collected today correspond to 10 percent of the total requests collected so far and 7 percent of the total amount,” he said.

SAD Portista also states that «applications to participate in the Porto Summer Club 2021-23 vouchers may be sent until 15:00 on May 21».

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