So how much debt do the 'new entity' have to cover to satisfy the RFU?

[wasps]

Were bond returns paid out as dividends?
If so what percentage of the original amount have bond holders been paid out to date?

[Neils]

Were bond returns paid out as dividends?
If so what percentage of the original amount have bond holders been paid out to date?

Seriously doubt they were paid anything - more involved people may want to comment

[Bloke in North Dorset]

As I understand it, the bond debt went with the stadium, which Ashley bought.

Does that mean that he has no liability for it and the bondholders will not get a penny back?

The bond debt doesn't go anywhere, they are creditors and must wait to see how much is left after preferential creditors have been paid. Bonds are usually low in the pecking order which is why they pay good interest rates.

[Rossm]

As I understand it, the bond debt went with the stadium, which Ashley bought.

Does that mean that he has no liability for it and the bondholders will not get a penny back?

The bond debt doesn't go anywhere, they are creditors and must wait to see how much is left after preferential creditors have been paid. Bonds are usually low in the pecking order which is why they pay good interest rates.

Also, they are inherently risky. If you are an investor in anything then you have to accept this. Never put all your eggs in one basket.

[baldpaul101]

Its worth re-reading this article:
https://rugbyandthelaw.com/2022/11/01/worcester-warriors-wasps-rugby-creditors-rule-rfu-premiership-administration-insolvency-takeover/

[Garuda]

Also, they are inherently risky. If you are an investor in anything then you have to accept this. Never put all your eggs in one basket.

I'm not a bondholder but I saw the prospectus and the risk factors were covered pretty thoroughly. A bondholder has every right to feel aggrieved (and I'd be pissed off too), but the risks were open and apparent before they invested.