Thursday April 27 2017
Milan to issue €123m bond

Reports suggest Milan will issue a €123m bond, underwritten by the US hedge fund which bankrolled the takeover of the club.

Yonghong Li and his Rossoneri Sport Investment Lux group completed their purchase of the club from Silvio Berlusconi earlier this month.

Now financial website il Sole 24 Ore reveals that a €123m bond will be issued by the club in Vienna, underwritten by Elliott.

Of that figure, €73m will go toward repaying Italian debts to Italian banks including BancoBpm, Intesa Sanpaolo, Unicredit, Cariparma and others.

The remaining €50m will be put toward the summer transfer market.

Also on the agenda is a shareholders’ meeting in May to recapitalise the Rossoneri’s finances, with an expected €100m increase in capital.