Barcelona issues bonds to renovate the “Camp Nou” stadium

La Liga champions Barcelona on Wednesday issued bonds to finance the renovation of the Camp Nou stadium, agreeing to pay interest ranging from 6 to 7.22 percent depending on the maturity dates, more than initially expected, according to data published on the Vienna Stock Exchange.

The Spanish club said in April that it had struck a 1.45 billion euro ($1.60 billion) financing deal with investors including Goldman Sachs and JPMorgan that would enable it to renovate its famous, outdated stadium and surrounding area.

The Camp Nou is the largest football stadium in Europe and the fourth largest in the world in terms of capacity, with 99,354 seats.

Barcelona agreed to pay the investors dues in gradual installments, after five, seven, nine, 20 and 24 years, according to a flexible payment structure that includes a grace period, with the final payment of the installments six years ahead of schedule under terms initially agreed by club members in 2021.