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Denver Airport Starts Capital Financing Plan With Two Sales.
DALLAS -- Denver International Airport today takes the first step toward financing its largest capital improvement program since opening in 1995.
In a deal led by Goldman, Sachs & Co., the airport will price $213 million of new-money revenue bonds in Series A and B. At the same time, Citi will manage another $34 million Series C advance refunding bond issue.Those bonds will be followed by three other issues this month for a total of more than $650 million. Another $365 million Series F sale, led by Bear, Stearns & Co., is expected in November.
The new debt is part of a $1.2 billion program that includes plans to replace the non-functioning automated baggage system, around which the airport was designed. The new automated baggage system is expected to be completed in six years at a cost of about $300 …
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Source: HighBeam Research, Denver Airport Starts Capital Financing Plan With Two Sales.
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