The Board is pleased to announce that today the Club issued Peterborough United Bonds to more than 500 new Bondholders who collectively invested £2,500,000 to finance key Club infrastructure projects.
After the maximum raise target was reached after only 8 days, a process of due diligence has been completed on investors, with the final list of Bondholders being granted Board approval on Tuesday 14th June. A significant proportion of the funds were invested via an ISA, meaning annual interest will be paid tax-free.
Co-owner Stewart Thompson was delighted with the results: “This has been a resounding success and we are extremely pleased with the whole experience of the Bond issuance. We felt confident that supporters would see this as we did – as a collaboration with benefits for all parties – and that confidence has proven to be well founded.
“We now have a clear mandate from our supporters to push forward with the projects. The installation of the safe standing section in the London Road End has already begun and we look forward to making strides on both the new sports bar and the work towards submitting a planning application for the new stadium and venue for Peterborough.”
Bondholders have today been issued with certificates for their Bonds, which are held within their online portfolios on Tifosy and are tradeable via the Tifosy Exchange. A range of Bondholder privileges will be provided to Bondholders over the coming months.
Club Chairman Darragh MacAnthony commented: “We were sure the Bond offering would be successful, but this really showed the strength of the Posh family. It’s a testament to how strong our support is and gives us a real boost as we start preparations for the new season. A fantastic result.”