MuniNet Guide Featured Municipal Bond Issue: City and County of Denver, CO International Airport $2.3 Billion Revenue Bonds

Aug 13, 2018 | Municipal Bonds, Municipal Finance, Municipal Finance - General, Transportation - Airports

The featured municipal bond is the City and County of Denver, Colorado, which plans to issue $2,276,100,000 in airport system subordinate revenue bonds the week of August 13, 2018. The bonds are being issued as a two series AMT and Non-AMT tax-exempt obligation, for the purpose of financing the costs of the Airport’s 2018-2022 capital program, refund certain outstanding bonds, fund a reserve fund, pay specified capitalized interest and the cost of issuance.    The bonds are being underwritten through negotiation group led by BOFA Merrill Lynch and Citigroup.  Payment of principal and interest on the bonds  will be secured and payable solely by a subordinate pledge of net revenues on a parity with all other outstanding subordinate bonds and subordinate obligations.  In addition,  a portion of the bond of up to $500 million is expected to be insured by the Assured Guaranty Municipal Corp..

Details on purposes, tax-status, security, as well as other matters pertaining to this Denver International Airport bond issue can be found in the preliminary official statement, available on MuniOS.

Provided at left (click to expand) is a quick snapshot of financial characteristics of the Denver International Airport as of 12/31/2017, compared with the 2016-2017 medians for other U.S. airports, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database.    Data and Information on airports in general can be found by accessing the MuniNet Transportation category page.

These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.