ABJ – 3/23/2016
Circuit of The Americas LLC reported Wednesday completing an $81 million debt financing after months of speculation that the massive racetrack and concert venue has been seeking a buyer.
The Austin company that operates the facility in Southeast Austin raised the capital from 18 investors, according to a filing with the U.S. Securities and Exchange Commission. The filing indicates that the financing was done “in connection with a business combination transaction such as a merger, acquisition or exchange offer.”
The capital, which will be used to fund general working purposes, was generated through the issuance of Series D cash flow subordinated notes, the filing shows.