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Bond Buyer Wanted And Needed

from Rebekah L. Sanders of the Arizona Republic,

Glendale is searching for new bond-buyers to finance part of its Phoenix Coyotes deal, after others demanded the city pay too high an interest rate, according to a potential minority investor in the Phoenix Coyotes.

The city is receiving help in finding bond buyers from the National Hockey League, team buyer Matthew Hulsizer and bond underwriter J.P. Morgan Securities, said John Breslow, a longtime Coyotes minority investor and member of team buyer Matthew Hulsizer’s ownership group.

“They’re out aggressively trying to sell the bonds,” Breslow said. “The goal is to find a lower rate and to have a payment (for the city) that is lower.”

continued

Filed in: NHL Teams, Phoenix Coyotes, | KK Hockey | Permalink
 

Comments

redxblack's avatar

This “deal” still amazes me. Who buys a team on the condition the local gov’t shell out $100m? For that price, I’d buy the Coyotes.

Posted by redxblack from Akron Ohio on 03/15/11 at 10:43 AM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

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