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Article: Deal in Focus: Kansas City Going to Market to Develop Downtown.
- Article from:
- The Bond Buyer
- Article date:
- March 30, 2005
- Author:
CopyrightCOPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- Kansas City, Mo., is taking some giant steps to make over a portion of its downtown. Yesterday it priced $180 million of variable-rate bonds to help finance an entertainment district for which it plans sell up to another $90 million in debt as early as June, and next month it will issue $200 million for a new arena.
The deal yesterday was sold through the Kansas City Industrial Development Authority with Oppenheimer & Co. as book-runner with 55% of the bonds. The team is rounded out with Lehman Brothers and Merrill Lynch & Co. splitting 27%, and Valdes & Morena and Harvestons Securities Inc. splitting 18%.
Springsted Inc. and the Knight Group ...