Punters rushing to back Jockey Club’s debut
James Moore is the Independent's Associate Business Editor and writes the Outlook City comment column from Tuesday to Friday. He also has a keen interest in disability issues and when not attempting to further injure himself playing wheelchair basketball.
Saturday 18 May 2013
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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