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Sheffield United to issue loan notes
England - 25 July, 2008
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Sheffield United would like to issue more than GBP 14 million in convertible loan notes. The club has requested that a general meeting take place next month to seek the approval of shareholders, for delivery of up to GBP 14.285 million.
Approximately GPB 10.58 million worth of funding will stem from the existing loan and interest held with SDG Caledonia Holdings, Ltd. The company, indirectly run by the immediate family and related trusts of Sheffield Chairman Kevin McCabe, was set for repayment at the end of next month.
Sheffield has also confirmed that the remaining amounts will be used towards the rejuvenation of Bramall Lane’s KOP stand.
Approximately GPB 10.58 million worth of funding will stem from the existing loan and interest held with SDG Caledonia Holdings, Ltd. The company, indirectly run by the immediate family and related trusts of Sheffield Chairman Kevin McCabe, was set for repayment at the end of next month.
Sheffield has also confirmed that the remaining amounts will be used towards the rejuvenation of Bramall Lane’s KOP stand.
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