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Old 22-01-2010, 10:30 AM
El Chalten
 
Default Re: Seems the bond issue is resolved

9% interest a year?

thought it was going to be lower than that.

so what happens in 7yrs?

fuck me.

nft.
 
Old 22-01-2010, 02:18 PM
Tumescent Throb
 
Default Re: Seems the bond issue is resolved

Quote:
Originally Posted by BryanRobson'sLiver
Way I see it this bond is underwritten by the takings of MUFC and any rumblings of discontent from the fans obviously have made sod all difference to the business model. Might I suggest making life quite difficult for the investors by stopping spending and encouraging others to do the same?
while the fans (with media lip service) were chewing over a 322 page document that apparently contained just about every conceivable scenario in the short medium and long term future of the club...

...the owners were selling the bond issue in the blink of an eye.


I am very interested to see who has bought in. We already know the painful truth that the capitalist industry is milking us for every penny they can. I wonder how many media organisations are in for these bonds?
 
Old 22-01-2010, 03:05 PM
redloner
 
Default Re: Seems the bond issue is resolved

Quote:
Originally Posted by El Chalten
9% interest a year?

thought it was going to be lower than that.

so what happens in 7yrs?

fuck me.

nft.
Aye. £44.5m a year in interest. More than United had to pay out to the banks and the Glazers can now pop in and make a withdrawal whenever they like to reduce their stupid interest roll-up debt. Starting with £70m in the next few weeks.

Then as 2017 approaches, they have to do this all over again to repay this year's bondholders.
 
Old 22-01-2010, 03:09 PM
BryanRobson'sLiver
 
Default Re: Seems the bond issue is resolved

Quote:
Originally Posted by Tumescent Throb
while the fans (with media lip service) were chewing over a 322 page document that apparently contained just about every conceivable scenario in the short medium and long term future of the club...

...the owners were selling the bond issue in the blink of an eye.


I am very interested to see who has bought in. We already know the painful truth that the capitalist industry is milking us for every penny they can. I wonder how many media organisations are in for these bonds?
The thing is what they are selling is OUR MONEY. The cash of the fans going in to the football club and what I am saying is we should stop giving the football club money. Just stop. Cease. And see how quickly the house of cards comes down.
 
Old 22-01-2010, 03:30 PM
Tumescent Throb
 
Default Re: Seems the bond issue is resolved

I appreciate what everyone is saying tbh

it's what everyone is not saying that is pissing me off

the people who've lent the glazers the money for the takeover and are now creaming off vast swathes of cash from United appear to have been absolved of all blame for some unfathomable reason

now a load more people have jumped into this bond thing and i want to know who they fucking are.
 
Old 22-01-2010, 05:10 PM
redloner
 
Default Re: Seems the bond issue is resolved

So, a quick debt/interest summary when all the shite has come to rest.

Bond - £500m @ 8.75% = £44m a year payable by United from cashflow until 2017 when £500m has to be repaid, probably with another bond issue.

PIKs - £148m (£218m give or take incl accrued interest less £70m next week.) Interest @ 16.25% added to loan, £24.4m August 2010 to August 2011. If not repaid faster, will still reach £424m when due to be repaid in 2017.
 
Old 22-01-2010, 05:27 PM
Tumescent Throb
 
Default Re: Seems the bond issue is resolved

not sure there's any real value in predicting/forecasting what will have happened by 2017, considering what's happened in the last couple of years, but anyway...

based on those figures that appears to be 44m x 7 plus £494m minus £70m which adds up to the princely sum of around £700m the industry will cream off United by 2017.

i have no idea why this appears not to be pissing people off beyond the end of their noses

doubtless you're all bored to tears of me making this point though, so I'll try and bite my lip from now on
 
Old 23-01-2010, 12:03 AM
Sloane
 
Default Re: Seems the bond issue is resolved

SAF's programme notes for Hull game make for interesting reading. Gives his take on financial situation & fans' recent reaction to it
 
Old 23-01-2010, 12:11 AM
Ben
 
Default Re: Seems the bond issue is resolved

Quote:
Originally Posted by Sloane
SAF's programme notes for Hull game make for interesting reading. Gives his take on financial situation & fans' recent reaction to it
got a link to them?
 
Old 23-01-2010, 12:31 AM
Sloane
 
Default Re: Seems the bond issue is resolved

Quote:
Originally Posted by Ben
got a link to them?
not yet, that was on that ben hibbs' twitter
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