Goldman Sachs Group Inc. has been tapped to underwrite a large municipal-bond sale that will finance a $2.1 billion stadium for the National Football League’s Tennessee Titans.
A local municipal agency in Nashville is planning to sell about $700 million of bonds for the stadium, according to a regulatory filing posted on Thursday that listed Goldman as the underwriter. The exact size of the sale could change and is subject to approval at the agency’s July 20 board meeting.
In April, the Metro Nashville City Council approved the sale of up to $760 million in revenue bonds to fund its contribution for an enclosed stadium with a translucent roof to host the Titans. With a previously approved $500 million state contribution in hand, the public funding for the Titans’ arena totals $1.26 billion.
Bloomberg
By Maxwell Adler and Amanda Albright
July 13, 2023