Liontrust could buy Man Utd bond - but only with a 10% coupon

Liontrust Asset Management says Manchester United must up its game by boosting the coupon on its bond to 10%.

Liontrust's fixed income team, which attended the football club's bond presentation on Friday, will not buy it in its current form, believed to include a coupon of between 8.0% and 9.5%. Quentin Peacock, Liontrust's co-head of fixed income research, says: "At the moment it is not as generous as it should be for the risks that we, as traditional investors in bonds, are being asked to take." However, Liontrust will "look again" if the coupon is 10%, or if secondary markets trading leave it on an equivalent yield. Peacock says the club's US investor presentations this week will determ...