Manchester United bond issue falls flat - papers

Manchester United may be in contention for another Premier League title, but its success on the pitch has worked little magic in the City. The club's first bond issue, launched barely two weeks ago, has become one of the market's worst performers this year.

While the club has secured the £500m ($798m) funding that it needs to refinance its bank debt, the paper losses suffered by investors could affect its ability to return to bond markets according to the Financial Times. The bid price of United's £250m of sterling-denominated bonds has dipped to 93% of face value. Full story...