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Closing Bell

Source: NHL Closes On $1.4B Credit Facility Led By Citigroup

A source said that the NHL has closed a $1.4B credit facility, "which is more than double the previous amount." The funding was reportedly "led and structured by Citigroup" and includes "20 banks and 20 investors." The source said that among the 11 teams that tapped the facility are the Blackhawks, Devils and Kings, and that "three so-called parking spots are being reserved for other potential borrowers" (BLOOMBERG NEWS, 9/30).

SportsBusiness Journal in April first reported that the league was "preparing a groundbreaking credit facility of at least $1 billion that for the first time would allow clubs to borrow from a centralized loan pool."

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