Texas Airport Plans $11 Billion Bond Gusher as Growth Surges
- Half to fund capital improvements, half for refunding
- Much of the debt will be taxable to attract foreign buyers
Dallas Fort Worth International Airport
Photographer: Stewart F. House/Getty Images North AmericaThis article is for subscribers only.
For Wall Street bankers and investors prospecting for municipal-bond deals at a conference in Texas, Michael Phemister promised them a gusher.
The vice president for treasury management at Dallas Fort Worth International Airport said he was planning on selling between $10 billion and $11 billion in municipal bonds over the next five to seven years to add more capacity to an airport that serves one of the fastest-growing areas of the nation.