Punters rushing to back Jockey Club’s debut

 

Horseracing punters have bet big on the Jockey Club’s first venture into the retail bond market.

The club, which owns of some of Britain’s best-known tracks including Cheltenham, Newmarket and Aintree, said it had reached its target of raising £1m through the Racecourse Bond in just over three weeks. It has now extended the offer because of demand.

The bond, which has raised  the second-largest amount by a retail offer for a bond that is not exchange listed, will now close on 28 May. The cash raised will be used to part-fund the £45m redevelopment of Cheltenham’s main grandstand.

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