Manchester United Issues $550M Senior Secured Notes and Amends Credit Facilities

Manchester United plc's subsidiary, Manchester United Football Club Limited, issued $550 million in 5.36% Senior Secured Notes due June 10, 2031 through a private placement on June 10, 2026. The notes are guaranteed by certain subsidiaries and secured against their assets. Proceeds will be used to prepay the company's existing 3.79% Senior Secured Notes due 2027 and for general corporate purposes. Concurrently, the company amended its existing term and revolving credit facilities to align covenants with the new notes agreement and extended the term facility maturity from August 2029 to June 2031. The notes were offered under Regulation D exemption and are not registered under the Securities Act.