Eight financial institutions have been selected to provide underwriting services for the issuance of $498 million in bonds to help cover the taxpayer portion of construction financing for the nearly $1 billion Vikings stadium project.
State picks eight firms to underwrite Vikings stadium bond issue
State picks eight firms to underwrite Vikings stadium bond issue.
October 22, 2013 at 11:05PM
The Minnesota Department of Management and Budget picked the firms, which will pool services, from a list of 22 applicants.
The state has yet to set a date for issuing the bonds, which will probably be sold over a period of several years. The Vikings are responsible for $477 million of the stadium's $975 million construction cost with the state and city of Minneapolis picking up the rest.
The senior managing underwriter will be RBC Capital Markets. Other firms selected to play a role in the transactions are J.P. Morgan, Wells Fargo Securities, Piper Jaffray, Morgan Stanley, Citigroup, Cronin & Co., Inc, and Loop Capital Markets.
Stadium groundbreaking is tenatively scheduled for mid November, with the building set to open in time for the 2016 NFL season.
Mike Conley was in Minneapolis, where he sounded the Gjallarhorn at the Vikings game, on Sunday during the robbery.
