By Chris Wack

The Cobb-Marietta Coliseum and Exhibit Hall Authority in Georgia is offering $188.9 million of revenue bonds, with proceeds slated for the Cobb Galleria Centre Project.

Money from the Series 2025 revenue bonds will be used to pay, finance, and possibly reimburse all or a portion of the costs of the project, according to documents posted Tuesday on MuniOS. That includes reimbursing the authority for some prior expenditures.

Pricing is scheduled for July 22 and closing on July 31.

The bonds will be secured by certain hotel and motel tax revenue collected in Cobb County, Ga., and participating cities, as well as certain liquor-by-the-drink tax revenue.

Money from the sale will also fund a deposit to a capitalized interest subaccount, a deposit to a debt service reserve account, and paying certain issuance costs.

Interest payments will be made on a semiannual basis beginning Oct. 1. The bonds will mature from 2027 through 2053.

Money from the sale will be used renovate and expand the Cobb Galleria Centre. That includes adding a 7,900 square-foot junior ballroom and more than 5,000 of square feet of meeting space. It will also pay for the demolition and replacement of a parking deck.

The Cobb-Marietta Coliseum and Exhibit Hall Authority was established by the state in 1980. Its mandate is to acquire, build and maintain facilities that help promote culture, education and recreation in the state.

Moody's assigned the bonds an Aa2 rating, and S&P Global Ratings gave them a rating of AA-.

BofA Securities is listed as the offering's lead manager.

(END) Dow Jones Newswires

July 16, 2025 18:17 ET (22:17 GMT)

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