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City Football Group ‘secures $650m loan’ to finance global growth ambitions

New York City FC has played seven seasons at the Yankee Stadium (Credit: Getty Images)

City Football Group, the owner of 10 clubs across the globe, including Premier League champions Manchester City, has raised $650m (€550m/£470m) in funding via a loan, securing one of the sport’s biggest-ever debt deals as it looks to further increase its global presence.

The Financial Times reports that the loan has been underwritten by British multinational bank Barclays, while HSBC and KKR Capital Markets played a role in helping to arrange and distribute the debt. The same firms have also reportedly provided CFG with a £100m revolving credit facility, though there are no immediate plans to draw on this. 

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