The Greenville Arena District expects to competitively sell $25.3 million of general obligation bonds Tuesday for refunding outstanding debt and to make improvements at the sports and entertainment complex.
The bonds will be sold in two series. The $8 million of Series A bonds will go toward refunding GOs sold in 1999. They will mature between 2010 and 2020.
Another $17 million of Series C taxable GOs will refund certificates of participation sold in 1996 and will fund improvements to the arena. The Series C bonds will have maturities between 2010 and 2033. Both series are rated Aa1 by Moody’s Investors Service and AA-plus by Standard & Poor’s.
Haynsworth Sinkler Boyd PA will serve as bond counsel. Southern Municipal Advisors Inc. will be financial adviser.
The arena, known as the BI-LO Center, is a 15,000-seat, state-of-the-art, multipurpose facility used for sporting events, concerts, and family shows, as well as corporate and community events, according to its Web site.
