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Firms vie to underwrite stadium

Firms vie to underwrite stadium Click to Enlarge Photo:

Oct 10, 2013 at 11:08 am

ST. PAUL, Minn. (AP) Twenty-two financial institutions have applied to help underwrite the $498 million taxpayer share of the new Minnesota Vikings stadium.

Minnesota Management and Budget released the list Thursday. It includes some of the nation's most prominent banks and financial institutions, including U.S. Bank, Wells Fargo Securities, Morgan Stanley and Goldman Sachs.

A spokesman says Management and Budget will take a few weeks to select an underwriter. More than one firm could be chosen. He says no firm date has been set for issuance of the bonds, which will be executed over a period of about two years.

The Vikings organization is responsible for the other roughly $477 million share of the new stadium. Groundbreaking is planned for October, with plans to open the stadium in time for the 2016 season.

Mike Tanner

Posted By Mike Tanner

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