Deal details
Baltimore Royal Farms Arena Renovation Project Financing
Description
A $130 million Senior Secured Delayed Draw Term Loan Construction Facility to Baltimore Arena Company LLC ("ArenaCo") to reimagine the iconic Baltimore Arena into a world-class sports and entertainment venue. ArenaCo is a special purpose bankruptcy remote entity established to lead the design, construction, financing, and operations of the renovated Arena. ArenaCo is currently owned and operated by the Investor Group currently consisting of OVG, 35V, Fundamental Advisors and Pharrell Williams.The renovated Arena will be a 13,000+ seat, reimagined world class concert and entertainment venue. A premier destination for fans and artists, the Arena will showcase renovations, including modernized, state-of-the-art acoustics, superior suites and exclusive club levels, premium contemporary seating, reimagined concourses, upscale culinary experiences in food & beverage selections, and more. It will be a cornerstone of the City of Baltimore, committed to the community, and redeveloped in the heart of Baltimore.
Assets involved
Companies involved
- 35 Ventures, Fundamental Advisors, Oak View Group
- Bell Bank, Black Bank Fund, Comerica Bank, First Horizon Bank, MUFG, Truist Bank
- Choate, Hall & Stewart LLP
- Comerica Bank
- MUFG
- Truist Bank
- Winston & Strawn
Key information
Baltimore Arena Company LLC
130$m
08-06-2022
Social infrastructure / Leisure/Stadia
United States
Project & Infrastructure Finance
Not PPP
Tranche information
Senior Secured Delayed Draw Term Loan Construction Facility
130$
Term Loan
130$m
US Dollar - USD
0
5.0 years
-
-
-
Participant | role | ticket size |
---|---|---|
Truist Bank | Lender | 50$m |
MUFG | Lender | 27$m |
Comerica Bank | Lender | 20$m |
First Horizon Bank | Lender | 15$m |
Bell Bank | Lender | 15$m |
Black Bank Fund | Lender | 2$m |