Milan have officially announced the early repayment of two bonds worth a total €128m issued by former owner Yonghong Li.
The Chinese businessman issued the two bonds to repay the €73m shareholder loan granted by Rossoneri Sport Investment Lux and fund transfer activity.
He was ousted by U.S hedge fund Elliott Management, and it has today been announced that the bonds have been repaid, effectively clearing the financial debt.
Milan have officially announced the early repayment of two bonds worth a total €128m issued by former owner Yonghong Li.
The Chinese businessman issued the two bonds to repay the €73m shareholder loan granted by Rossoneri Sport Investment Lux and fund transfer activity.
He was ousted by U.S hedge fund Elliott Management, and it has today been announced that the bonds have been repaid, effectively clearing the financial debt.
“On the date hereof, A.C. Milan S.p.A. (the "Company"), by way of a notice sent to the sole holder of the notes named "Prestito Obbligazionario Garantito Associazione Calcio Milan S.p.A. 2017–2018 – Serie 1" (ISIN Code IT005254435) (the "Series 1 Notes") and "Prestito Obbligazionario Garantito Associazione Calcio Milan S.p.A. 2017–2019 – Serie 2" (ISIN Code IT0005254443) (the "Notes Series 2" and, together with the Series 2 Notes, the "Notes") issued by the Company and listed on the Third Market of the Vienna Stock Exchange, and to the calculation and paying agent, has exercised the option to voluntarily early redeem in whole the Notes according to Section 9.2 of the respective terms and conditions of the Notes,” a statement on the club’s website reads.
“The date of redemption will be 28 September 2018.”