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Arsenal Beats Manchester United in Asset-Backed Debt (Update2)

July 7 (Bloomberg) -- Arsenal Holdings Plc, beaten in European soccer's Champions League final this year, is preparing for a bond market victory.

The owner of the Arsenal soccer club in Highbury, London, plans to raise 260 million pounds ($478 million) this month in the first public sale of asset-backed debt by a European team. By insuring the 25-year securities and pledging ticket revenue to investors, the company obtained a AAA credit rating.

Arsenal will use the money to repay a loan that financed its new stadium and save about 1.2 million pounds in annual interest. The securities yield less than bonds sold by rival teams Chelsea and Manchester United and show how the asset- backed market is picking up in Europe.

``This deal will dramatically lower debt service charges,'' said Stephen Schechter, founder of Schechter & Co., a London- based investment bank that has helped seven U.K.

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Youth council ready for work

Cr Fraser Buchanan is the council representative and will work closely with the youth council exploring projects that will benefit the shire and its young population.

The youth council term runs from July to June and it will meet every two months in Bega.

Council's youth development officer Simon Schweitzer said the youth councillors were keen to make a positive impact on the shire.

"We have a great team of young adults who have some wonderful ideas," Mr Schweitzer said.

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