Wasps launch 'first ever' sports club retail bond

Wasps, an English professional rugby union club, has launched what it claims is the first retail bond to be issued by a sports club.

It is hoping to raise £25m-£35m with the launch of a new 7-year secured bond, the 6.5% Sterling Bonds due 2022. It will be secured on Wasps Holdings and the 33,000-seater stadium it owns in Coventry, the Ricoh Arena. Interest will be paid semi-annually on 13 November and 13 May in each year with the investment due to be paid back in full on 13 May 2022. The bonds will trade on the London Stock Exchange. The minimum initial investment is £2,000, and the bonds can be bought and sold in multiples of £100. The offer period closes on 6 May. The launch is the latest in a series of unusua...