DFW Home Mobile Site Contact Us Sign In
Home Pressroom

DFW International Airport Successfully Prices Refunding Bonds

click for printer friendly version

Airport to save over $96 million with lower interest rates on debt

Dallas/Fort Worth (DFW) International Airport made a successful trip to the bond market last week, pricing more than $433 million worth of bonds for the purpose of refunding existing debt with more favorable interest rates. DFW Airport achieved a true interest cost (TIC) of 4.026% on the deal, meaning the Airport should achieve a total savings of $96.5 million.
”We are very pleased with the results of the pricing for our 2012B bond sale,” said Chris Poinsatte, chief financial officer for DFW Airport. ‘We were significantly oversubscribed in the short and long end, allowing us to lower rates and achieve significant savings. It seems clear that ongoing issues within the airline industry had no impact on our bond pricing.”
The 2012B bond sale will be refunding portions of five previous bond issuances, including 2000A, 2001A, 2002B, 2002C and 2003A. The previous bonds cover some of the debt for design and construction of the Airport’s Skylink people mover system, which opened in 2005. The new bonds will reach maturity in 2035.
The bond pricing took place on Thursday morning, February 16 in New York City. The bond sale will close on March 1.
Handling the bond sale for DFW Airport are the following:
        JPMorgan – Senior Manager and book runner
        Merrill Lynch – Co-Senior
        Loop Capital – Co-Manager
        Cabrera Capital Markets – Co-Manager
        Stifel Nicolaus – Co-Manager
        RBC Capital – Co-Manager

About DFW International Airport

Located halfway between the cities of Dallas and Fort Worth, Texas, DFW International Airport is the world's fourth busiest, offering nearly 1,750 flights per day and serving 57 million passengers a year. DFW provides non-stop service to 145 domestic and 48 international destinations worldwide. For five consecutive years, DFW has ranked in the top five for customer service among large airports worldwide in surveys conducted by Airports Council International. For the latest news, real-time flight information, parking availability or further details regarding the many services provided at DFW International Airport, log on to www.dfwairport.com.

Follow DFW International Airport On:

Facebook Twitter YouTube

About DFW

Development Plans
Traffic Statistics
DFW Brand

Contact Us

Customer Service
Lost and Found
Parking Citation FAQ’s
Contact DPS

Press Room

DFW Fast Facts
Contact Corporate Communications

Join the Team

Ambassador Volunteers

Newsletter Sign-up

Subscribe to the free DFW e-Newsletter to have the latest news about the Airport delivered to your inbox.

Stay Connected

Stay connected to DFW Airport. Friend us on Facebook, follow us on Twitter or watch us on YouTube. Click here to learn more.
FaceBook_24x24 Twitter_24x24 YouTube_24x24
Click here to visit the DFW Mobile Site © 2016 Dallas/Fort Worth International Airport Help Contact Legal