S.F. BALLET TO SELL ‘NUTCRACKER’ BONDS
In a novel financing scheme, the San Francisco Ballet announced that it will sell $1.5 million in bonds to pay for a lavish new production of the annual Christmas production of “The Nutcracker.”
For $1,000, a 10-year bond will pay 5% interest annually and come with a guaranteed pair of orchestra seats to “The Nutcracker” each year for the next decade.
A spokesman noted that if the $60-a-pair tickets were added to the $50 interest payment, the bond’s annual yield will be 11%.
The ballet also announced that its accumulated deficit grew by $959,000 for the fiscal year ending June 30 and now stands at $1.6 million.
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