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Reds seal refinancing deal with RBS and Wachovia

LIVERPOOL&rsquo;S owners have ended months of uncertainty by refinancing &pound;290m of debt they accrued in buying the club.<br /><br />The deal with Royal Bank of Scotland and Wachovia is believed to have extended Tom Hicks and George Gillett&rsquo;s repayment period for a year.<br /><br />The Americans are also thought to have agreed to pay back &pound;60m of the debt, with at least half upfront and the remainder later in the year.<br /><br />Fears grew that the banks might call in the loan as last week&rsquo;s deadline for the refinancing passed with no announcement of a fresh agreement.<br /><br />Auditors KPMG warned last month that the looming deadline cast &ldquo;significant doubt&rdquo; on the future of the club&rsquo;s parent company Kop Football Holdings. Hicks and Gillett&rsquo;s investment vehicle lost more than &pound;40m in the year ending August 2008, with interest payments alone accounting for more than &pound;36m. Despite spending &pound;17m on full-back Glen Johnson, boss Rafael Benitez&rsquo;s budget has been limited by the club&rsquo;s repayments.<br /><br />The owners, who bought the club for &pound;174m in 2007, have since searched in vain for an investor to take a minority stake.