According to a report in the Irish Independent, the Liverpool owners will repay £60 million to Wachovia and the Royal Bank of Scotland, as part of a condition concerning a refinancing package that has been agreed between the parties.
They will repay £40m this week, and repay the remaining amount later in the year. This will eventually reduce the initial debt to £230m.
Hicks and Gillett had a £350m loan that was set to expire last week. However, according to the recent reports in the certain tabloids, that amount had been reduced to £290m, and will come down by a further £60m as a part of the new agreement.
Ramez El Hajj