{"id":15477,"date":"2016-11-29T16:57:47","date_gmt":"2016-11-29T16:57:47","guid":{"rendered":"http:\/\/hub.passdrop.me\/2016\/11\/29\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/"},"modified":"2016-11-29T16:57:47","modified_gmt":"2016-11-29T16:57:47","slug":"lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation","status":"publish","type":"post","link":"https:\/\/symphony.org\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/","title":{"rendered":"Lincoln Center refinances debt in advance of Geffen Hall renovation"},"content":{"rendered":"

\u201cLincoln Center for the Performing Arts is refinancing about a third of its hefty debt load as it readies for a planned $500 million renovation of the New York Philharmonic\u2019s home venue at David Geffen Hall,\u201d writes Jennifer Smith in Monday\u2019s (11\/28) Wall Street Journal<\/em><\/a> (subscription required). \u201cThe organization \u2026 has about $270 million in debt. The lion\u2019s share stems from a $1.2 billion overhaul of its 16-acre campus\u2026. About $60 million borrowed in 2008 was scheduled to come due next month, with another $40 million due December 2018. Now Lincoln Center has pushed off those obligations until 2026, through an $87.5 million tax-exempt bond series \u2026 The transaction, set to close Tuesday, will save the performing-arts center more than $1 million in interest annually\u2026. Robert Cundall, the organization\u2019s chief financial officer, said the bond series allows Lincoln Center to save money on existing capital debt at a time of historically low interest rates, while preserving liquidity ahead of the David Geffen Hall renovation\u2026. Lincoln Center is still waiting for the final portions of some multiyear pledges to come in from the previous redevelopment effort.\u2026 It is also responsible for 60% of the costs to renovate David Geffen Hall.\u201d <\/p>\n

Posted November 29, 2016<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cLincoln Center for the Performing Arts is refinancing about a third of its hefty debt load as it readies for a planned $500 million renovation of the New York Philharmonic\u2019s home venue at David Geffen Hall,\u201d writes Jennifer Smith in Monday\u2019s (11\/28) Wall Street Journal<\/em>….\u00a0 <\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"topic":[],"acf":[],"yoast_head":"\nLincoln Center refinances debt in advance of Geffen Hall renovation - Symphony<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/symphony.org\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lincoln Center refinances debt in advance of Geffen Hall renovation - Symphony\" \/>\n<meta property=\"og:description\" content=\"\u201cLincoln Center for the Performing Arts is refinancing about a third of its hefty debt load as it readies for a planned $500 million renovation of the New York Philharmonic\u2019s home venue at David Geffen Hall,\u201d writes Jennifer Smith in Monday\u2019s (11\/28) Wall Street Journal....\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/symphony.org\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/\" \/>\n<meta property=\"og:site_name\" content=\"Symphony\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/orchleague\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-29T16:57:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/symphony.org\/wp-content\/uploads\/2022\/12\/Symphony-Logo-on-light-background.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"BFC\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@orchleague\" \/>\n<meta name=\"twitter:site\" content=\"@orchleague\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"BFC\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/symphony.org\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/symphony.org\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/\"},\"author\":{\"name\":\"BFC\",\"@id\":\"https:\/\/symphony.org\/#\/schema\/person\/b4e1447f7e1f1928c437d8f4456e5ed5\"},\"headline\":\"Lincoln Center refinances debt in advance of Geffen Hall renovation\",\"datePublished\":\"2016-11-29T16:57:47+00:00\",\"dateModified\":\"2016-11-29T16:57:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/symphony.org\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/\"},\"wordCount\":201,\"publisher\":{\"@id\":\"https:\/\/symphony.org\/#organization\"},\"articleSection\":[\"News Briefs\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/symphony.org\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/\",\"url\":\"https:\/\/symphony.org\/lincoln-center-refinances-debt-in-advance-of-geffen-hall-renovation\/\",\"name\":\"Lincoln Center refinances debt in advance of Geffen Hall renovation - 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