Business briefs: Jockey Club | Rolls Royce | AVM Impact | Carpetright

THE owner of Aintree, Cheltenham and Newmarket racecourses today becomes the first sporting organisation to raise funds on the corporate bond market.

The Jockey Club aims to raise £15 million to put toward the £45m cost of a new grandstand at Cheltenham, with returns including cash and discounts at any of the club’s 15 racecourses.

• Rolls Royce has sold its interest in the joint venture that produces engines for the Apache and Merlin helicopters to partner Turbomeca for €293 million (£250m).