Serie A TIM: AS Roma launches €275m bond offer to restructure its debt

ASR Media and Sponsorship SpA, a subsidiary of AS Roma (Serie A TIM) in charge of the club's media and sponsorship sectors, is launching a bond offering up to a maximum of €275m, with the bonds maturing in 2024, announced the Italian capital city club on 26/07/2019.

"The net proceeds from the offering of the Notes (the “Offering”), if completed, are expected to be used to refinance the existing debt of MediaCo, also optimizing its structure and maturity, and to provide the Company with financial resources for its business," stated AS Roma. The decision to launch a bond was approved by the club's board of directors on 24/07/2019. The club's net debt amounted to €218.762m as of 30/06/2018.

Several Italian specialized media indicate that the sums obtained by the AS Roma will be mainly used to repay a loan that the club had contracted with the American bank Goldman Sachs in February 2015. If that loan may have amounted to €175m, the Roman club is now expected to repay around €215.5m, with the interest rate being around 6.25%.

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