Michael Cieply Executive EditorFinancial wheels are in motion again at the Academy of Motion Picture Arts and Sciences, this time with a new bond issue that replaces about $128 million in earlier bonds that were about to come due in November.
In other words, they’ve re-financed.According to the Electronic Municipal Market Access System, a new debt issue of $98.8 million began trading on Thursday morning at a price of $130.741.
That would indicate a yield for investors of 1.38 percent, and should give the Academy just about enough fresh cash to redeem its 2015B bonds, which were about to mature.
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