AFC Wimbledon bond to tackle loan

AFC WIMBLEDON is aiming to raise up to £4.5million by issuing a bond to retail investors that pays interest of 6 per cent.

The League One football club, which is owned by the fans, wants to raise money to repay a bridging loan for the development of its stadium in Plough Lane.

Two years ago, the club launched a bond which raised £5million after building costs for its new stadium soared. Now AFC Wimbledon needs another £4.5million to refinance the high interest bridging loan.

Prior to the official launch of the bond, AFC Wimbledon had already raised £700,000 from supporters. Each £1million will save the club £60,000 in interest bills. The minimum investment for the new 5, 10 or 20-year bond is £1,000 and the 6 per cent interest applies whatever the amount, plus there is a bonus of 1 per cent for fans who invested in the first bond.