DALLAS — Faced with a weakening municipal debt market, Glendale, Ariz., is considering a private placement for up to $125 million of revenue bonds to keep the Phoenix Coyotes playing hockey in the city-owned Jobing.com arena.

The bond issue is a key element of Glendale’s plan to finance the sale of the National Hockey League team to Matthew Hulsizer, chief executive of Chicago-based options-trading firm PEAK6 Investments.

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