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9:21 am, October 21, 2008
Bain Capital unit selling Manchester United debt

Up to £8.8m ($15.2m) of debt used to fund the take-over of Manchester United is up for sale.

The debt is a tiny proportion of the £790m take-over of Manchester United by the Glazer family in 2005 and is included in a list of £197m ($341m) of buyout loans offered for sale.

Sankaty Advisors LLC, an investment unit of Boston-based private equity fund Bain Capital LLC, is selling the loans, it was reported. The list was obtained by financial news wire service Bloomberg News.

According to Bloomberg, the Glazer family owes creditors in the region of £660m.

The sale also includes loans to 35 companies such as Big Brother producer Endemol NV and U.K. bingo hall operator Gala Coral Group Ltd.

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