Barclays Center Refinancing Saves $90 Million for Prokhorov

Updated on
  • Proceeds used to retire debt sold in 2009 yielding 8 percent
  • Revenue bonds maturing in 2042 priced to yield 2.88 percent

Mikhail Prokhorov, the Russian-born billionaire owner of the Brooklyn Nets and the Barclays Center, refinanced almost $500 million of the arena’s debt, saving $90 million.

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