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BREWERS DISCOVERING UPS AND DOWNS OF BOND ISSUE
Published May 29, 1996
Settling on the proper interest rates for the bonds to help finance the Brewers' new $250M stadium "is proving to be a tough balancing act," according to Kenneth Lamke of the MILWAUKEE JOURNAL SENTINEL. While the rate must be high enough to attract bond buyers, it must be low enough so the Brewers can afford to pay them back -- and so far that medium has not been found. Timothy Sheehy, President of the Metropolitan Milwaukee Association of Commerce: "The teeter-totter swings back and fourth." Two other factors --the coverage ratio and length of the bonds -- also have yet to be worked out. Sheehy said he "wouldn't be surprised" if Northwest Mutual Life "played a role" in buying some of the bonds (MILWAUKEE JOURNAL SENTINEL, 5/25). Today's WALL STREET JOURNAL reports $60M of the stadium will be financed by privately placed debt so the team won't have to open its books to public inspection (WALL STREET JOURNAL, 5/29).