Bond Commission approves start of refinancing Superdome

dberce1 · 01-21-2005, 08:16 AM

Bond Commission approves start of refinancing Superdome, arena debt
1/20/2005, 2:39 p.m. CT
The Associated Press

BATON ROUGE, La. (AP) ÃƒÂ¢Ã¢Â‚Â¬Ã¢Â€Â The initial steps for refinancing the debt for the Superdome and New Orleans Arena ÃƒÂ¢Ã¢Â‚Â¬Ã¢Â€Â part of the governor's plan to generate cash for the state's deal with the Saints ÃƒÂ¢Ã¢Â‚Â¬Ã¢Â€Â began Thursday.

The State Bond Commission approved the start of a process to seek the attorneys and underwriters who will handle the refinancing of the bond debt. State Treasurer John Kennedy, head of the commission, said he wanted to move quickly while interest rates were still favorable.

It is not yet clear how much money would be saved with any debt refinancing, but initial estimates were around $50 million, money that could be applied to any new arrangements with the team or to help fund the current deal.

http://www.nola.com/newsflash/louisi...list=louisiana

Good news, let's get this ball rolling.

01-21-2005, 08:16 AM	#1
dberce1 Chuck Liddells Right Hand Join Date: Nov 2003 Location: Prairieville, Louisiana Posts: 1,227	Bond Commission approves start of refinancing Superdome Bond Commission approves start of refinancing Superdome, arena debt 1/20/2005, 2:39 p.m. CT The Associated Press BATON ROUGE, La. (AP) ÃƒÂ¢Ã¢Â‚Â¬Ã¢Â€Â The initial steps for refinancing the debt for the Superdome and New Orleans Arena ÃƒÂ¢Ã¢Â‚Â¬Ã¢Â€Â part of the governor's plan to generate cash for the state's deal with the Saints ÃƒÂ¢Ã¢Â‚Â¬Ã¢Â€Â began Thursday. The State Bond Commission approved the start of a process to seek the attorneys and underwriters who will handle the refinancing of the bond debt. State Treasurer John Kennedy, head of the commission, said he wanted to move quickly while interest rates were still favorable. It is not yet clear how much money would be saved with any debt refinancing, but initial estimates were around $50 million, money that could be applied to any new arrangements with the team or to help fund the current deal. http://www.nola.com/newsflash/louisi...list=louisiana Good news, let's get this ball rolling.