State completes $462 million bond sale for new Vikings stadium

Minnesota officials said Tuesday that they’ve completed the sale of $462 million in bonds for the new Vikings football stadium.

Reported the Minnesota Management & Budget office:

“Proceeds of the sale, along with premiums, will be used to finance the public portion of the capital costs for a new stadium that will be used by the Minnesota Vikings and for other public uses such as high school athletics, amateur sports, cultural and entertainment events.”

The bonds are rated AA by Standard & Poors and AA by Fitch, and the “true interest rate” for the tax-exempt and taxable bonds was 4.27 percent, which officials deemed good.

 Kristin Hanson, assistant commissioner for Treasury and Debt Management, said: “It was a good day to be selling bonds. After the closing of the bonds this week, the state’s portion of the stadium financing will be completed.”

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