DALLAS STARS REFINANCE WITH BANK OF AMERICA MERRILL LYNCH, BBVA COMPASS, COMERICA AND HSBC
Dallas Sports and Entertainment L.P., parent company of the Dallas Stars Hockey Club, a member club of the National Hockey League, is pleased to announce the successful completion of their $95 million refinancing with a syndicate of banks led by Bank of America Merrill Lynch that includes BBVA Compass as co-lead, Comerica as Administrative Agent and HSBC.
"This completes a process put in motion last year upon the acquisition of the Stars by our owner, Tom Gaglardi," said Dallas Stars President Jim Lites. "At that time, Mr. Gaglardi assumed the existing facility of the prior owner in order to expedite the closing. We have now put in place a permanent facility for the Stars with a small group of banks who have strong connections to both the team, the Dallas market and Mr. Gaglardi. This transaction completes the process of the recapitalization of the Dallas Stars."
Mr. Gaglardi stated, "We are thrilled by the support shown by these four leading lending institutions and their belief in the Dallas Stars."
Dallas Sports & Entertainment, L.P. (DSE, L.P.) is the parent company of DSE Hockey Club, L.P. which operates the Dallas Stars, a member club of the National Hockey League. In addition to ownership of the Dallas Stars, DSE, L.P. operates four ice rink facilities in the Dallas/Ft. Worth area through DSE Hockey Centers, L.P. named the Dr Pepper StarCenters, and holds a 50% interest in the Center Operating Company, L.P. which operates the American Airlines Center in downtown Dallas.