Wed 11/16/2022 17:34 PM
Relevant Document:
Notice
Legacy Cares Inc. has engaged investment bank Loop Capital to “pursue the prospect of” refunding $283.8 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.
Editor’s Note: A previous version of this story indicated that the outstanding Series 2020 and Series 2021 bonds totaled $238.8 million. The story has been updated to reflect that $283.8 million in Series 2020 and Series 2021 bonds are outstanding.
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