Search
 

Broncos Looking To Refinance Stadium

DENVER-A 1-point drop in the interest rate on the Broncos' $150-million construction loan on Invesco Field at Mile High could save the team $30 million. Ambac Assurance will help the Broncos state their case.

By John Rebchook | Updated on December 18, 2001

DENVER-The Broncos might not be favorites to make it to the Super Bowl, but they could score big on one front. The NFL team is looking to refinance the $150-millionconstruction loan on its new stadium, Invesco Field at Mile High, which opened in August.

Currently, the Broncos are paying an interest rate in the high sevens, and hope to drop it in the sixes.

By dropping the rate by about a percentage point, the Broncos stand to save an extra $30 million.

The Broncos expect to hire a bond insurer, Ambac Assurance, to help them gain a premium, triple-A rating for a lower interest rate.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

Recommended Stories

GlobeSt. NET LEASE Fall 2023Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.