Bonds of Manchester United rose to a record amid speculation the 18-time English soccer champion may be sold to the Qatari royal family.
Manchester United’s 250 million pounds ($400 million) of 8.75 percent notes due 2017 were at 111.44 pence in the pound, taking their gain since Feb. 8 to 5.59 pence, or 5.28 percent, according to generic prices on Bloomberg. Newspapers including the London-based Daily Mail reported that Qatar Holding LLC is interested in buying the team.
“A lot of investors expect the Qatar deal to happen now,” said Jonathan Moore, an analyst at Evolution Securities Ltd. in London. “As a result, you would have a stronger owner financially with no real concerns about them taking cash out of the club. Plus, a new owner might decide to take out the bonds, which would mean paying a premium.”
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