REVENUE-BACKED SECURITIES GENERATE $139.8M FOR PEPSI CENTER

          Ascent Entertainment Group has completed its
     "revolutionary financing plan" for the $165M Pepsi Center,
     raising $139.8M using revenue-backed securities due in 2019,
     according to Al Lewis of the ROCKY MOUNTAIN NEWS.  John
     Gillespie, Managing Dir of Bear Stearns & Co. sport's
     financing division, said that the Pepsi Center is the first
     sports venue to be financed with revenue-backed securities.
     The notes are backed by revenue streams from naming rights
     to the stadium, two corporate sponsorships and the sale of
     luxury suites.  Ascent spokesperson Paul Jacobssen would not
     "identify the names of the corporate sponsors, but Coors and
     Pepsi are two that have been previously identified" (ROCKY
     MOUNTAIN NEWS, 7/31).  The non-recourse notes were issued by
     the Arena Company's wholly-owned business trust and were
     assigned a single-A rating by Fitch IBCA, Inc. (Ascent).