The $534.8 million in Ballpark Revenue Bonds will finance the construction of the new Washington Nationals stadium in Southeast.
(Washington, DC) The District of Columbia has completed the sale of $534.8 million in Ballpark Revenue Bonds for construction of the new Washington Nationals stadium in Southeast.
The tax-exempt, fixed-rate bonds ($355,000,000) sold at an interest rate of 4.97%, and the taxable bonds sold at an interest rate of 6.4%, for a total blended rate of 5.37%.
The average annual debt service on the bonds is $38 million over 30 years.
We are very pleased by the outcome of the sale, said Chief Financial Officer Natwar M. Gandhi. Now we can look forward to the successful completion of the stadium.