March Madness Tournament Arena Tests Muni-Bond Market Appetite
- Indianapolis agency is selling $390 million of bonds
- Proceeds partly to finance renovations of NBA Pacers home
Bankers Life Fieldhouse in Indianapolis, Indiana.
Photographer: Ron Hoskins/NBAE/Getty ImagesThis article is for subscribers only.
One of the Indianapolis arenas hosting the men’s college basketball championship next month is turning to the municipal-bond market to raise money for renovations, betting that fans will flock back to large venues once the pandemic is quelled.
The local government agencies that oversee the Bankers Life Fieldhouse, where some of the round 1 and 2 and Sweet 16 games of the tournament known as March Madness will play, are selling $390 million of tax-exempt bonds on Thursday.