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Airport staff seek authorization to sell up to $700M in revenue bonds to finish redevelopment program
Summary
Salt Lake City Airport staff told the council they will seek authorization to issue up to $700 million in airport revenue bonds (anticipated issuance about $634M) to finance remaining capital work at the Salt Lake City International Airport and outlined schedule, contingencies and debt-service assumptions.
Airport leadership briefed the council on May 13 about a proposed bond authorization enabling placement of up to $700,000,000 in airport revenue bonds to fund outstanding capital work on Salt Lake City International Airport redevelopment.
Bill Wyatt (executive director of airports) and Brian Butler (airport CFO) said staff expects to borrow roughly $634 million (authorization allows cushion to $700M to accommodate market volatility), with an illustrative pricing assumption near 5.55 percent and customary options to vary maturity (the…
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