An “amazing” windfall.Schalke 04 is happy with 90 million euros
The Royal Blues are happy to bring this: The successful placement of this new bond brings a total of 90 million euros to FC Schalke 04. The financially troubled second division football team is happy and already has a plan.
Debt-ridden second division football team Schalke 04 can expect a windfall of 90 million euros. Through the success of their new bond placement, Royal Blues said they raised almost double the money from their initial plan of additional income of 50 million euros.
Only when demand becomes higher does the publishing volume increase until the subscription period ends. The total volume placed on the capital market has now reached 90 million euros. The funds consist of an allocation in the public offering, which is capped at 75 million euros, as well as an institutional private placement of 15 million euros.
“The result is extraordinary and a great success for Schalke 04,” said Christina Rühl-Hamers, board member and responsible for finances, in a club statement. “The high subscription volume, even far exceeding our upgraded public offering, exceeded all our expectations. This underscores the great trust and credibility we enjoy on our journey towards financial stabilization.”
“The issue,” continued Rühl-Hamers, “puts us in a position to reorganize our financial structure in the long term – a very strong strategic choice for our club. With this bond we gain new financial scope for action and at the same time increase the security of our planning.”
The miners want to use the fresh money to replace two previous bonds in 2021 (15.9 million euros) and 2022 (34.1). The additional funds are now aimed at accelerating the repayment of future obligations.
