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Airport seeks large refunding and swap authority; budget analyst narrows request
Summary
Airport officials described a plan to authorize up to $1.4 billion in refunding bonds and interest-rate swaps to reduce long-term debt service; the budget analyst recommended reducing the requested maturity extension and slightly lowering swap authorization and termination reserve figures, recommendations the committee accepted.
The San Francisco International Airport presented a resolution to authorize issuance of up to $1.4 billion in revenue refunding bonds and related interest-rate swap transactions as part of a debt-management plan. Ben Kuttnick, the airport finance director, said the airport carries approximately $4 billion in outstanding debt and that debt service…
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