"The excellent advice and assistance we received from David Walker and his team at Memery Crystal enabled us to successfully develop the first mini bond issued by a UK sports organisation. We’re delighted with the outcome, which contributed greatly to our iconic £45m development at the Home of Jumps racing, Cheltenham Racecourse. The Jockey Club is an organisation always looking forward as we seek to provide an excellent experience for racing fans and participants alike for many years to come."
Nevin Truesdale, Group Finance Director - The Jockey ClubIn detail
This was the first corporate mini-bond to be issued by a British sporting group. With applications received in respect of approximately £20 million (well in excess of the fundraising target of £15 million), The Jockey Club Racecourse Bonds helped to finance a major development project planned by The Jockey Club at Cheltenham Racecourse, including a new state-of-the-art grandstand and other improvements.
The Jockey Club Racecourse Bond could be applied for by UK and Republic of Ireland based individuals, trusts, charities and companies (including Self Invested Pension Plans). Applicants applied for between £2,000 and £100,000 worth of bonds. Interest will be paid at a rate of 7.75% (gross) per annum payable of which 4.75% (gross) per annum will be paid in cash and 3% (gross) payable in Rewards4Racing Points. These points can be redeemed towards purchases through The Jockey Club’s racecourse websites, including tickets, restaurant packages, hospitality packages and racecards.
More information on The Jockey Club Racecourse Bond can be found on www.racecoursebond.com
Amount Raised £25m