Second Bundesliga Club FC Cologne Reaches Issue Volume Fan Bonds Goal
Indebted 2nd Bundesliga club FC Cologne "has already reached its planned issue volume for its fan bonds," according to the DPA. The club's fan bonds, which have been available since the start of August, "have already sold out with an issue volume of €10M ($13M)." FC Cologne President Werner Spinner said, "The result of the bond positioning after two months is impressive. The early and complete positioning of the fan bonds is a very pleasant result, even more so considering the difficult start to the season, and the overall economic situation of FC Cologne." The club will use, as announced, the money generated through the sale of its fan bonds "in major parts to restructure its debt." The bond subscribers will receive 5% interest on their investment. The duration of the paper is five years (DPA, 10/29).