- Jun 23, 2004
- 357
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silly question - sorry. Our loan repayments for the stadium borrowing. Are we repaying capital and interest or just interest?
It's really isn't a silly question, lot's going on there.
The total loan balances reduced from £852.6m to £851.3m in year. The total interest paid on loans in the year was £24m.
That's very little reduction in the capital balance (for that amount of interest), but the majority of this loan balance is structured as interest-only, as below:
- The main Bond Issue (£525m - Sep'19), will only reduce when bonds start to mature, between 15-30 years from issue. Average maturity of the total debt package is 23 years, while the weighted average coupon is 2.66%. (circa £14m interest per year currently).
- The most recent Loan Issue (£250m - Jun'21), this whole £250m is repayable in 2051 (2.8% interest - £7m interest per year.)