I took it is debt the Met owned, paying them interest, not debt they owed. That is some bizarro-world stuff if they actually owed others interest on "Met bonds" when they already beyond underwater.robcat2075 wrote: ↑Fri Mar 19, 2021 8:30 amAccording to their 2019 annual report only 27% of their revenue comes from tickets. 53% is "Contributions, including Net Assets Released from Restrictions". In ten years their ticket sales have gone from 83% of capacity to 67%
Per this Bloomberg article the Met's debt in bonds is at least $89 million. It is not clear what their annual payment is nor when the principle comes due.
I presume the interest they pay on debt is included in the annual report's "other expenses" of $73 million in 2019.
The Bloomberg article notes their debt has been classified as "junK" which doesn't relieve them of the obligation of paying it but does warn anyone thinking of lending them money in the future that they are unlikely to be able to pay on time or at all and it also indicates that if you bought any Met bonds in the past it will be difficult to resell them for anything close to their on-paper worth.
Reading the article, you're right. Wow. I wouldn't expect any return on a "Met bond"...