Manchester United have successfully raised £504m through a bond issue, which will cover most of what the club owe to international banks, reports BBC Sport. The deal means the Premier League club will be able to pay off nearly all their outstanding debts of £509m.
They will face an annual interest bill of £45m a year on the bonds.
The sale comes after figures showed debts at the club's parent firm, Red Football Joint Venture, rose to £716.5m in the year to June 2009.
Doubt was cast over the prospects of being able to sell them, but they have been over-subscribed.
A spokesman for the Glazer family claimed the deal will bring a 'transparency' to United's finances for the next seven years.
The deal is expected to give the club's owners more flexibility in the running of the Old Trafford outfit, and could bring them leeway to make some new signings.
