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Borrowings | 6 Months Ended
--- | ---
Dec. 31, 2024
Borrowings |
Borrowings | 26Borrowings ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 31 December | ​ | 30 June | ​ | 31 December
​ |  | 2024 |  | 2024 |  | 2023
​ | ​ | £’000 | ​ | £’000 | ​ | £’000
Senior secured notes |  | 337,614 |  | 334,538 |  | 331,572
Secured term loan facility |  | 178,105 |  | 176,509 |  | 174,937
Revolving credit facilities |  | 210,000 |  | 30,000 |  | 260,000
Accrued interest on senior secured notes and revolving credit facilities |  | 5,746 |  | 5,574 |  | 6,792
​ |  | 731,465 |  | 546,621 |  | 773,301
Less: non-current portion |  | ​ |  | ​ |  | ​
Senior secured notes |  | 337,614 |  | 334,538 |  | 331,572
Secured term loan facility |  | 178,105 |  | 176,509 |  | 174,937
Non-current borrowings |  | 515,719 |  | 511,047 |  | 506,509
Current borrowings |  | 215,746 |  | 35,574 |  | 266,792
​ The senior secured notes of £337,614,000 (30 June 2024: £334,538,000; 31 December 2023: £331,572,000) is stated net of unamortized issue costs amounting to £1,359,000 (30 June 2024: £1,615,000; 31 December 2023: £1,866,000). The outstanding principal amount of the senior secured notes is $425,000,000 (30 June 2024: $425,000,000; 31 December 2023: $425,000,000). The senior secured notes have a fixed coupon rate of 3.79% per annum and interest is paid semi-annually. The senior secured notes mature on 25 June 2027. The senior secured notes were issued by our wholly owned subsidiary, Manchester United Football Club Limited, and are guaranteed by Red Football Limited, Red Football Junior Limited, Manchester United Limited, MU RAML Limited and MU Finance Limited and are secured against substantially all of the assets of those entities and Manchester United Football Club Limited. These entities are wholly owned subsidiaries of Manchester United plc. The secured term loan facility of £178,105,000 (30 June 2024: £176,509,000; 31 December 2023: £174,937,000) is stated net of unamortized issue costs amounting to £1,321,000 (30 June 2024: £1,456,000; 31 December 2023: £1,589,000). The outstanding principal amount of the secured term loan facility is $225,000,000 (30 June 2024: $225,000,000; 31 December 2023: $225,000,000). The secured term loan facility attracts interest of US dollar LIBOR plus an applicable margin of between 1.25% and 1.75% per annum and interest is paid monthly. The remaining balance of the secured term loan facility is repayable on 6 August 2029, although the Group has the option to repay the secured term loan facility at any time before then. The secured term loan facility was provided to our wholly owned subsidiary, Manchester United Football Club Limited, and is guaranteed by Red Football Limited, Red Football Junior Limited, Manchester United Limited, MU Finance Limited and Manchester United Football Club Limited and is secured against substantially all of the assets of each of those entities. These entities are wholly owned subsidiaries of Manchester United plc. The Group also has £210,000,000 (30 June 2024: £30,000,000; 31 December 2023: £260,000,000) in outstanding loans and £90,000,000 (30 June 2024: £270,000,000; 31 December 2023: £40,000,000) in borrowing capacity under our revolving facilities. These facilities terminate on 25 June 2027. The Group has complied with all covenants under its revolving facilities, the secured term loan facility and the note purchase agreement governing the senior secured notes during the 2024 and 2023 reporting period.

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