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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