By Paul A. Harris
St. Louis, June 23 - Giants Stadium privately placed a $360 million issue of 7.1% amortizing notes, according to a market source.
The transaction priced at a 300 basis points spread to Treasuries.
The notes have a 30-year final maturity and a 21.5-year average life.
Bank of America Merrill Lynch, Goldman Sachs & Co. and J.P. Morgan Securities Inc. were the placement agents.
Proceeds will be used to refinance municipal bonds.
Giants Stadium is a multi-purpose stadium located in East Rutherford, N.J.
| Issuer: | Giants Stadium
|
| Amount: | $360 million
|
| Final maturity: | 30 years
|
| Average life: | 21.5 years
|
| Securities: | Amortizing notes
|
| Placement agents: | Bank of America Merrill Lynch, Goldman Sachs & Co., J.P. Morgan Securities Inc.
|
| Co-managers: | TD Securities, US Bank, Wells Fargo Securities
|
| Coupon: | 7.1%
|
| Spread: | Treasuries plus 300 bps
|
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