US firm McGuireWoods has scored a major role in a debt refinancing deal for Manchester United opposite Allen & Overy (A&O). The firm advised Bank of America on a new committed term loan facility for the football club's MU Finance subsidiary, which is expected to cut the club's interest costs by around £10m a year. The proceeds will be used to refinance £177.8m of outstanding sterling bonds and $22.09m (£14.65m) of US dollar bonds. McGuireWoods advised Bank of America on the financing, with banking and finance partner Marc Isaacs and senior counsel Loy McKeithen leading in London, and Kevin McGinnis advising in Charlotte, North Carolina.
May 30, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
US firm McGuireWoods has scored a major role in a debt refinancing deal for Manchester United opposite Allen & Overy (A&O).
The firm advised Bank of America on a new committed term loan facility for the football club’s MU Finance subsidiary, which is expected to cut the club’s interest costs by around £10m a year. The proceeds will be used to refinance £177.8m of outstanding sterling bonds and $22.09m (£14.65m) of US dollar bonds.
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