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... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...