Wed 11/16/2022 17:34 PM
Legacy Cares Inc. has engaged investment bank Loop Capital to “pursue the prospect of” refunding $238.8 million of outstanding bonds tied to the multisports park facility and family entertainment complex Legacy Sports Park
in Mesa, Ariz., according to a notice that bond trustee UMB Bank posted to EMMA today.
Loop Capital has had “several preliminary discussions” with a group of majority bondholders during which the investment bank indicated that a refinancing could be executed on a tax-exempt basis through the Arizona Industrial Development Authority, the issuer of the existing bonds. Loop Capital has not provided a term sheet but is working through bond counsel to develop a tentative financing schedule, the notice says.
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2022 Reorg Research, Inc. All rights reserved.