Bonds Sold for New Convention Center

Metro Government has successfully closed a massive bond sale to finance Nashville’s largest public building project to date.

The $623 million debt for a new convention center was sold Wednesday with higher-than-expected demand. Mayor Karl Dean says the level of interest helped lower the overall cost of the bonds, which will run the city roughly $40 million a year for the next three decades.

In a deal organized by Goldman Sachs, more than 50 investors, including insurance companies and fund managers, purchased most of the convention center bonds.