U.S. Bank provided a $125 million credit facility to the Utah Jazz. The team is using the proceeds to renovate Vivint Smart Home Arena, which will reopen on September 27 after a summer of extensive upgrades. U.S. Bank initially provided the credit facility on a sole basis to simplify the documentation and closing process.
“This financing from U.S. Bank helped us renovate the arena from top to bottom to create a gathering place for the community,” said John Larson, chief financial officer, Larry H. Miller Sports & Entertainment.
“We’re delighted to support this important renovation,” said Bill Mulvihill, head of the Sports and Entertainment Group at U.S. Bank. ”The Utah Jazz are a great club and we are proud of the trust they placed in us with this project.”
The U.S. Bank Sports and Entertainment Group provides a wide range of banking and financial services to major sports leagues, including Major League Baseball, the National Basketball Association, the National Hockey League, the National Football League and Major League Soccer.
Located in downtown Salt Lake City, Vivint Smart Home Arena opened in 1991 as the homecourt of the NBA Utah Jazz.
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