News
- Hilliard Lyons and Morgan Joseph Join in Equity Research Partnership
- No IRA Required Minimum Distributions For 2009
- Hilliard Lyons Research Analysts Lykins and Burks Win High Honors
- Hilliard Lyons Participates in Financing Downtown Arena
- Hilliard Lyons Serves as Advisor on the First Build America Bond Issue in Kentucky
Hilliard Lyons Participates in Financing Downtown Arena
September, 2008 — Hilliard Lyons is pleased to be a co- senior managing underwriter of the Louisville Downtown Arena.
Hilliard Lyons CEO James R. Allen said, “Supporting local and regional development is consistent with Hilliard Lyons’ longstanding commitment to the region and to the city. Our new local ownership status allows us to play an important role in the growth and development of our community. We are also very appreciative of our clients’ shared support of this project. It’s great to keep the financing of projects like this in the community.”
Hilliard Lyons was crucial in taking on the liability for taxable municipal bonds, which are less commonly seen. Taxable bonds were a necessity for the project because there will be private use of the arena. Louisville Arena Authority Chairman Jim Host said the arena financing deal was the eighth largest financing deal done in the United States in August 2008.
Louisville Mayor Jerry Abramson commended Hilliard Lyons’ involvement. “When push came to shove, Hilliard Lyons stepped up as only local corporate citizens can do,” Abramson said, adding that that he believed the Arena project would generate even more restaurant and hotel activity for the downtown area.
The seven-level, 717,000-square-foot arena at Main and Second streets will be the future home of the University of Louisville Men’s and Women’s Basketball programs. It will seat 22,000 for basketball games; 16,000 for ice shows, indoor soccer or the circus; and 23,000 for center-stage concerts, wrestling or boxing. The $238 million facility will also include numerous concession stands, a restaurant overlooking the Ohio River, a sports bar with a view onto the Arena bowl, retail space, meeting rooms, press facilities, underground parking and more. It is expected to open in the fall of 2010.
Hilliard Lyons is a member of the New York, American and Chicago stock exchanges, the Financial Industry Regulatory Authority (FINRA), and the Securities Investors Protection Corp. (SIPC). Hilliard Lyons focuses on the creation, preservation and distribution of its clients’ wealth. The firm specializes on planning issues that include retirement, business succession, trust and estate planning and education funding. Hilliard Lyons offers comprehensive financial services and advice, including professional managed accounts from the country’s premier managers, as well as a broad menu of investment vehicles, such as stocks, bonds, options, mutual funds, annuities and insurance to facilitate the financial strategies recommended. Founded in Louisville, Kentucky in 1854, the firm has a long and distinguished history in the American marketplace. Hilliard Lyons operates 70 branches in 13 states. The firm’s Financial Consultants use original and purchased research tools and state-of-the-art software -- coupled with their own knowledge and experience -- to advise their clients through the financial challenges that life brings.
This is not an offering to buy or sell securities. The offering is made only by the Official Statement, copies of which are available by request.