Lancashire launches retail bond to fund hotel development

LANCASHIRE County Cricket Club has launched a maiden retail bond to support development of a four-star hotel its ground, Emirates Old Trafford.

The LCCC Cricket Bond is a five-year initial fixed-term bond offering 7% gross interest per annum for investments from £1,000. The club is aiming to raise £3m to help fund development of a new four-star branded hotel to replace the existing Old Trafford Lodge.

The club said interest will be made up of 5% paid in cash and 2% in Credit4Cricket Units, which can be redee... For the full story register now for free or login below...