Arena Board Takes First Steps Towards Refinancing Arena Debt

LOUISVILLE, Ky. -- The Louisville Arena Authority clears the first hurdle in refinancing the KFC Yum! Center.

The Arena Authority has selected Bank of America Merrill Lynch and Siebert Shanks to lead a potential restructuring of the arena's debt. Board chairman Scott Cox says any refinance would require legislation from Frankfort and the Metro Council and the restructuring of the University of Louisville's deal with the arena.

Cox says all of those parties are actively discussing the matter and he expects progress on the refinancing soon.

He says if it does go forward, it would result in lower interest rates on the debt and would put them in a position to possibly pay off the debt ahead of schedule.

PHOTO: Getty Images


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