Harlequin FC is launching its first ever bond as it aims to raise at least £7.5m.
The iconic rugby club is offering investors interest at a rate of 5.5% (gross) per annum, paid in cash semi-annually in arrears, over an initial five-year fixed-term. The Harlequin FC Bond may issue up to £15 million to satisfy demand. Investments need to be made in multiples of £1,000 and there is a minimum investment of £2,000 per person.
The closing date for applications is 1pm on Monday 16th May, 2016. Applicants for the bond will be eligible to join The Quarters Club, providing exclusive offers and promotions.
The idea behind the bond is to drive the long term growth of the club at a time of record memberships and the rapid global growth of rugby.
Harlequins is one of the oldest and most famous rugby clubs in the world, and celebrates its 150th anniversary this summer.
Turnover for the year ended 30th June 2015, was a record £17.9m, up 18% on 2013/14. Membership totalled 9,170 for the 2015/16 season, an increase of 13% on the 2013/14 season.
Chief Executive of Harlequin FC David Ellis said: “I am delighted to announce the launch of the Harlequin FC Bond and to offer our supporters the opportunity to be part of the next chapter of Harlequins’ story. The proceeds will enable us to invest in the Club, take us to new levels and to continue to stay ahead of the game as it grows. Our goal is to be the best rugby club in Europe and the best sports club in the world. The focus for the Club is to continue to invest in the areas that positively impact the business including our players, supporters and partners with the aim of underpinning our sporting achievements with commercial success to lay the foundation for the next 150 years.”