BankAmerica Corp. said it will finance construction of the Staples Center, a 20,000-seat sports arena slated for downtown Los Angeles.

The lead banking unit of the San Francisco company has fully underwritten a $305 million credit facility for L.A. Arena Co., an entity owned by the Los Angeles Kings hockey team. The package is one of the largest private financings of a sports arena in the United States.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.