Wimbledon No.1 Court Debenture issue fully subscribed raising £25m
London, UK, Monday 6 June 2016. On 22 April 2016, The All England Lawn Tennis Ground plc (the “AELTG”), owner of the tennis courts, grounds and buildings at which the annual Wimbledon Lawn Tennis Championships (“The Championships”) are held, announced the issue of up to 1,000 No.1 Court debentures for the five years from 2017 to 2021 priced at £31,000 each.
The application period has ended and the AELTG today announces that the issue has been significantly oversubscribed, with renewal rates from existing debenture holders in line with previous debenture issues. Therefore, all 1,000 debentures will be allotted and issued. The debenture issue has raised approximately £25 million (net of VAT and expenses).
The AELTG will shortly notify all applicants as to whether or not their applications have been successful.
The proceeds of the issue will contribute to the funding and implementation of the Wimbledon Master Plan, The All England Lawn Tennis Club’s vision to maintain Wimbledon as the world’s premier tennis tournament. This vision includes the construction of a retractable roof on No.1 Court as well as an extra 900 seats, a new public plaza in the place of Court 19 and new hospitality facilities, all scheduled for completion in 2019.
Advisers to the issue were Rothschild and CMS Cameron McKenna.