Nashville Airport Authority plans $1.3 billion bond sale to fund expansion

[Airplane view of Nashville Airport with multiple planes ready for departure on a clear day]
Alexandra Scott/iStock Editorial via Getty Images

The Metropolitan Nashville Airport Authority is preparing to issue about $1.3 billion in bonds early next year to support major expansion projects and refinance existing debt, according to a securities filing.

The bond sale, expected to take place in mid-January, would help finance ongoing improvements at Nashville International Airport (BNA) and other facilities managed by the authority. The deal will include a combination of bonds that are both subject to and exempt from the alternative minimum tax, with Bank of America (BAC [https://seekingalpha.com/symbol/BAC]) serving as lead underwriter.

If completed, the offering would rank among the largest municipal bond transactions of 2026, signaling a strong start for the new year’s issuance calendar, according to Bloomberg News. Municipal borrowing has already reached record levels in 2025, with more than $500 billion sold nationwide, driven by higher infrastructure costs and inflationary pressures.

Nashville International handled 24.7 million passengers in fiscal 2025, the highest in its history, as the city’s rapid population and tourism growth strain existing facilities. The bond proceeds will continue funding the airport’s “New Horizon” expansion, a multiyear effort launched in 2017 and projected to cost $4.5 billion by its completion in 2029.

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