Detroit Hockey Arena Bonds On Horizon
CHICAGO -- The state of Michigan may come to market in the next several weeks with a $450 million bond deal to finance a controversial new hockey stadium in Detroit.
The deal, the largest financing for a Detroit project since the city filed for bankruptcy in July 2013, is expected to be a mix of tax-exempt and taxable debt structured as limited-obligation revenue bonds.
The taxable piece, expected to total $200 million, will be privately placed with Comerica Bank.
A sale of the $250 million tax-exempt bonds that had been expected to price in early November, has since been pushed back.

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