The All England Lawn Tennis Ground plc, owners of the Wimbledon Championship courts, are raising £ 162.2 million via debentures to develop and improve the Wimbledon Courts. The issue has been oversubscribed,
The All England Lawn Tennis Ground plc (AELTG) has announced that the Centre Court debenture issue for a five-year period between 2021 and 2025 has been oversubscribed.
The 2,520 Centre Court debentures will therefore be allotted and issued in the coming weeks. The AELTG will notify all applicants as to whether or not their applications have been successful.
The proceeds of the issue, which has raised £162.3 million (net of the nominal value, VAT and estimated expenses), will be used for AELTG’s capital investment in the continuing development and improvement of the Grounds, including the No.1 Court Project, the wider AELTC Master Plan and the acquisition of The Wimbledon Park Golf Club.
The issue of debentures also allows the AELTC, which manages The Championships, to maintain the accessibility of ticket pricing for the general public throughout the Grounds.
Philip Brook, Chairman of AELTG and the AELTC, commented: “The success of this Centre Court 2021-2025 debenture issue is testament to the enduring appeal of Wimbledon both to our debenture holders and to the wider market. It also highlights the important role that our debenture holders play in helping us in our mission to continue to improve the experience for everyone coming to Wimbledon and to ensure that The Championships remains the finest stage in world tennis for years to come.”
Advisers to the issue were Rothschild & Co and CMS Cameron McKenna Nabarro Olswang LLP.