Thursday, 21 January 2010

Bond pricing update

From the FT:

"Investors are saying Tranche 1: (£300m) priced to yield 9% and tranche 2 : ($325m) priced to yield 8.75%."

Not a great yield given the amount of cash the Glazers can suck out of the club. Interesting too that the many are suggesting the bond issue is finding more favour with private clients than institutions. It's amazing how a free mini football can get in the way of common sense.