Wembley National Stadium Ltd. (WNSL), the company that is rebuilding Wembley, England's national soccer stadium, has decided that the initial financing for the construction will come from syndicated loans, rather than a ticket securitization.

However, a ticket revenue-backed ABS is still likely to take out the bank financing later in the project, because once the stadium is closer to completion and to producing predictable revenues a securitization will likely provide keener pricing, experts said. WNSL was also concerned that the process of seeking a rating and conducting a due diligence would delay the project.

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