AC Milan have announced they have completed the repayment of two bonds that were issued last year on the Vienna Stock Exchange.
The bonds totalled €123m (€73m + €50m), and was part of the €303m loan to Yonghong Li – the other €180m of which had to be paid by Rossoneri Sport Lux.
The €180m was paid by Elliott, while the second part was still pending, but the €123m capital increase has gone through and the remaining debt has been paid off. As of now, Milan has no outstanding debts.
An official statement on the club’s website reads: “Milan, 25 September 2018. 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.”
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