LOUISVILLE, Ky. (WDRB) The Louisville Arena Authority has selected Bank of America Merrill Lynch to oversee the possible refunding of the KFC Yum! Centers construction debt.
The investment bank is one of 12 companies that make up the management group chosen by the arena board at a special meeting Friday. The firms would lead the arena boards goal of restructuring bonds sold in 2008 that are now considered junk, or below investment grade.
The debt on those bonds is set to rise dramatically in the coming years, prompting arena officials to warn that by 2020 they may not be able to make payments on principal and interest.
But before it can refund its debt, the arena authority hopes to revise its deal with the Yum! Centers main tenant, the Uni…
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