Apollo Management has lent £80mn to Nottingham Forest Football Club in expensive debt to allow it to pay off other liabilities, in the private capital firm’s first known foray into English Premier League football.
The US group in December provided a three-year term loan at an annual interest rate of 8.75 per cent, according to corporate filings.
Some £55mn of the proceeds have been used to refinance an existing facility owed to Rights and Media Funding Group, a lender that has in the past provided financing to premier league club Everton, while the remaining £25mn is additional working capital.
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