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Manchester United’s $800 million high-yield bond is leading a wave of deals from highly indebted companies, as risk-hungry investors offer them a much-needed opportunity to refinance bank and other expensive debt.
The British soccer champions said on Sunday they would launch a 500 million pound ($797.6 million) high yield offering to help refinance the huge debt taken on by the U.S. Glazer family to buy the club in 2005.
The club is meeting potential investors in Asia and Europe this week before heading to the United States on Jan. 19 to drum up interest for its plan to sell senior secured loan notes to replace existing borrowings secured against the club. Manchester United would dramatically improve its financial position and ultimately achieve lower interest payments if it eliminated an expensive and ballooning form of junior debt known as payment-in-kind (PIK) notes
January 18, 2010 at 11:06 am | Secured Loan | No comment
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Secured Loans
News about secured loans make for interesting reading. The lending figures for November from the Bank of England have shown an increase in net lending.
Total net lending to individuals increased by £1.1bn in November, fuelled by a £1.5bn increase in net lending secured on dwellings (e.g. mortgages and secured loans).
However, net consumer credit continued to fall (by £0.4bn), suggesting that consumers are focusing on repaying debt – and that banks and other lenders are still reluctant to offer as much consumer credit as they may have in the past.
January 12, 2010 at 8:28 am | Secured Loan | No comment
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Secured Loans – Don’t Panic!
According to Moneyfacts.co.uk, the availability of secured personal loans is dwindling rapidly, and the last twelve months have seen eight lenders withdraw from the market.
There is no need to go out and do a good old fashioned bit of British panic-buying just yet though. There are still plenty of lenders out there willing to do business, it’s just a case of taking a cautious and well-informed approach to make sure you get the best personal loan deal possible. The help of a personal loan expert is highly recommended if you are not familiar with the market and its movements.
August 10, 2008 at 5:11 pm | Secured Loan | No comment
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When to Take a Secured Personal Loan
The secured loan is generally regarded as the most efficient personal loan option available, but what are they typically used for?
Secured loans are the most suited for big financial outlays – the list is endless, but some good examples include buying a house, buying another property, buying a new car or financing home improvements.
August 2, 2008 at 3:51 pm | Secured Loan | No comment
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Many Personal Loan Options Still Available
A spokesperson at thinkmoney.com has spoken of the reduced availability of the secured loan, as a result of the credit crunch. There are still, however, a range of personal loan solutions available to those who find themselves in financial difficulty.
“Depending on the individual’s circumstances, a number of other debt solutions may be more appropriate than a secured loan, such as a debt management plan, an unsecured consolidation loan, an IVA (individual voluntary agreement) or, for residents of Scotland, a trust deed,” said the spokesperson.
July 31, 2008 at 3:42 pm | Secured Loan | No comment
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