The heavily indebted second division soccer team Schalke 04 can look forward to a windfall of 90 million euros.
Through the successful placement of their new bond, the Royal Blues said they collected almost twice as much money as the original plan of 50 million euros in additional income.
Due to high demand, Schalke increased the issue volume twice by the end of the subscription period. Nevertheless, the paper remained heavily oversubscribed with a term of five years and an annual interest rate of at least 6.5 percent.
Repayment should be accelerated
The club wants to use the fresh money to replace two previous bonds from 2021 (15.9 million euros) and 2022 (34.1). The additional income that was not initially planned should now be used to force the repayment of further liabilities.
In addition, the club leadership hopes that, in parallel with financial consolidation, there will be more scope for further sporting development towards the desired return to the Bundesliga.
