The City of Atlanta, which owns Hartsfield-Jackson Atlanta International Airport, will sell about $706 million of mostly tax-exempt debt this week backed by revenue from airport operations, reports Bloomberg.
Bloomberg says the figure is based on deal documents.
Airport spokeswoman Reese McCranie told Bloomberg, “Current scheduled seat projections for the airlines reflect an increase of approximately 1.5 percent for the next six months, and we are optimistic this growth, combined with continued growth in international enplanements, will continue into fiscal year 2015.”
According to bond documents, the airport, which is home to Delta Air Lines Inc., served about 95.5 million passengers in 2012, Bloomberg adds.
The bonds will refinance securities and may provide about $29.2 million in present-value savings, McCranie said. No additional debt sales are anticipated for the remainder of this year, she said.
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