The Glazer family, which has a variety of interests in US sports clubs, bought United for £828 million in 2005, funding one third of the acquisition with bank debt.
“Manchester United today announced that it will be seeking to raise approximately £500m aggregate principal amount from an offering of senior secured notes due 2017,” said a club statement.
“The notes, whose proceeds will be used to refinance existing debt secured against the club, will be issued by MU Finance Plc.”
The move to refinance comes as club debt liabilities have eaten into profits. In 2008, interest payments of £69 million accounted for £72 million of profit.
