2018 BJCC bond issue

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The 2018 BJCC bond issue was a sale of $313 million in capital bonds offered beginning on July 18, 2018 by the Birmingham-Jefferson Convention Complex Authority to finance construction of a new BJCC stadium as well as improvements and expansion of the existing Legacy Arena.

The projects, which were included in the BJCC's 2016 Master Plan, were developed in partnership with the City of Birmingham, the Jefferson County Commission, UAB, and various corporate backers. Those entities, along with the BJCC Authority, serve as security for the bonds which were offered for sale. The issue was divided into five groups, each backed by a separate revenue stream.

The Rice Advisory Group was contracted as financial adviser to the BJCC. Underwriters include Raymond James, Stifel, Loop Capital Markets, and Securities Capital Corp.

References

  • Edgemon, Erin (June 20, 2018) "BJCC takes another step towards downtown stadium." The Birmingham News
  • Edgemon, Erin (July 18, 2018) "$300 million in bonds sold for BJCC Legacy Arena, downtown stadium." The Birmingham News
  • Edgemon, Erin (August 7, 2018) "BJCC bond sale closes, generates $313 million for stadium, arena renovations." The Birmingham News
  • "Inside the bond sale for the BJCC stadium project." (August 10, 2018) Birmingham Business Journal