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Juventus to raise €150 million in bond market debut

Juventus to raise €150 million in bond market debut

Juventus, one of Italy's leading clubs and home to Cristiano Ronaldo,  plans to enter the bond market, issuing €150 million (£131 million) in debt.

Speaking to Bloomberg, a source close to the planned deal said the debt would mature in five years.

In a statement, the Turin-based team's board of directors said it would seek to raise between €100 million to €200 million.

‘Amount, maturity date and features of the bond will be specifically determined based on the opportunities offered by the market,’ it added.

Juventus is not the first Europe football club go down this route. In 2010, Manchester United sold dollar and sterling bonds in order to refinance debt from a leveraged buyout.

In December 2017, Inter Milan sold €300 million euros of five-year bonds—which now yield about 4.8%.

AA-rated Nick Train has enjoyed a boost to his funds from a strong rally in the shares of his holdings Manchester United and Juventus in 2018.

Back in October Train said: 'Sports and entertainment assets remain in a bull market.’

Train holds Manchester United shares in his Lindsell Train UK Equity fund and Finsbury Growth & Income (FGT) investment trust. Juventus is meanwhile a holding in the Lindsell Train Global Equity fund he runs with AAA-rated Michael Lindsell and AAA-rated James Bullock.

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