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IFS SECURITIES SERVES AS CO-MANAGER ON ATLANTA FALCONS STADIUM PROJECT BONDS
IFS Securities was selected to serve as Co-Manager on The Atlanta Development Authority Revenue Bonds (New Downtown Atlanta Stadium Project) Senior Lien Series 2015A-1, Senior Lien Series 2015A-2, Second Lien Series 2015B.
The Atlanta Development Authority (d/b/a Invest Atlanta) is issuing the Series 2015 Bonds pursuant to a Trust Indenture, dated as of May 1, 2015, to provide funds to finance or refinance the development, construction and equipping of a new operable-roof, state-of-the-art, multipurpose stadium to replace the existing Georgia Dome facility.
The New Stadium Project in the City of Atlanta will be located and constructed on land that is owned or controlled by the Geo. L. Smith II Georgia World Congress Center Authority, an instrumentality of the State of Georgia (the “GWCCA”).
Proceeds of the Series 2015 Bonds will also be used to fund a debt service reserve fund as well as a tax collection stabilization fund, provide for the payment of interest on the Series 2015 Bonds, and pay the costs of issuance of the Series 2015 Bonds.
The new stadium is expected to create more than 1,400 jobs and bring in $155 million in annual revenue, according to the city.