Welcome! Login | Register
 

‏Angiulo: The Trouble With Almost Legal Marijuana—Massachusetts has a funny relationship with marijuana.

Small Biz in A Digital Age: Cross-Promoting—The world of business is moving faster --…

NEW: MA Gas Prices Skyrocket 12 Cents From Last Week—Gas prices in Mass. go up 12 cents

Sharks Shut Out For Second Straight Game, Fall 2-0 to Monarchs—Sharks Fall 2-0 to Manchester

College Admissions: 6 Biggest Lies in College Admissions—Every year, families around the country flock to…

Miller ‘s 30 Points Lead Holy Cross Past BU 77-70 in Season Finale—Holy Cross knocks off BU, 77-70.

Sharks Fire 50 Shots on Net, But Fall 2-0 to IceCaps—Sharks fall 2-0 to IceCaps

Monfredo: A Follow-Up With More Suggestion to Stop Chronic Absenteeism—In a follow-up to my article on chronic…

Fit For Life: Jobs—In these times, so many people are looking…

Leonard Moorehead, The Urban Gardener: Patience is Virtuous—Good grief, will the snow ever melt?

 
 

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.