MUMBAI: Abu Dhabi-owned City Football Group, which owns and operates reigning English Premier League champions Manchester City, has reportedly raised $650 million to fund infrastructure projects.
The debt deal will seek to boost investment in its international network of football clubs, UK’s Financial Times reports.
CFG, a subsidiary of Abu Dhabi United Group, with significant stakes held by American and Chinese shareholders, holds stakes in New York City, Melbourne City, Yokohama F Marinos, Montevideo City Torque, Girona, Sichuan Jiuniu and Mumbai City FC.
As per FT, the funding, one of the largest debt deals, will support infrastructure projects such as a new stadium for its Major League Soccer franchise New York City FC.
FT further reports that the seven-year loan was underwritten by Barclays, with HSBC and KKR Capital Markets helping arrange and distribute the debt, according to people familiar with the deal.
Separately, CFG has also organised a revolving credit facility worth £100m with the same finance providers.
