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August 30, 2016 Comments Off on NY Yankees Plan $1B Stadium Bond Refi Views: 453 National News, New York News, Northeast

NY Yankees Plan $1B Stadium Bond Refi

The New York Yankees will be refinancing the $1 billion in bonds issued to build its new stadium, which opened in the Bronx in 2009. The team’s plan is to refinance tax-exempt debt issued in 2006 and 2009. Media sources say the team could save at least $10 million a year in interest through the refinance.

Though the Yankees are second-to-last place in their division, indicated the team ranks a strong second in attendance of the 15 American League teams. Moody’s Investor Service, in the meantime, raised the bond rating to Baa3, citing the area’s resiliency.

Read More at Crain’s New York Business

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