Welcome! Login | Register
 

15 Memorial Day Weekend Getaways in New England—15 Memorial Day Weekend Getaways in New England

Monfredo: We’re Over the 600K Mark on Book Donations - Time to Read—Monfredo: We’re Over the 600K Mark on Book…

Celtics Fall to Cleveland 109-99 in Game 6, Game 7 Set for Sunday in Boston—Celtics Fall to Cleveland 109-99 in Game 6,…

Fit For Life: Make Life Happen For You—Fit For Life: Make Life Happen For You

Leonard Moorehead, the Urban Gardener: Classic Geraniums—Leonard Moorehead, the Urban Gardener: Classic Geraniums

10 Great Things to do in Worcester This Weekend - May 25, 2018—10 Great Things to do in Worcester This…

Man Arrested After Being Caught Breaking Into Car in Worcester—Man Arrested After Being Caught Breaking Into Car…

Finneran: Memorial Day, 2018—Finneran: Memorial Day, 2018

NFL to Fine Teams if Players Kneel During National Anthem—NFL to Fine Teams if Players Kneel During…

Actor Morgan Freeman Accused of Sexual Harassment by 8 Women—Actor Morgan Freeman Accused of Sexual Harassment by…

 
 

Bonds Sold for 38 Studios Deal

Wednesday, November 03, 2010

 

The state Economic Development Corporation announced today that $75 million in bonds had been sold to finance the deal with former Red Sox pitcher Curt Schilling’s video game company. The EDC is guaranteeing the loan.

The EDC said the sale allows the company, 38 Studios, to move to Rhode Island, where it is expected to bring 450 jobs to the state. 38 Studios has also executed a lease for the former Blue Cross Blue Shield office building in downtown Providence.

The company will now receive $13 million as the first installment of the funds. The company has to meet additional milestones set out in its agreement with the EDC in order to receive the remaining funds over the next 15 months. Nearly $20 million in reserves has been set aside to cover the first three years of debt payments.
 

 

Related Articles

 

Enjoy this post? Share it with others.

 
Delivered Free Every
Day to Your Inbox