Muni-Bond Buyers Wish for ‘Time Machine’ as Airport Sells Debt
- Atlanta’s airport, one of world’s busiest, to sell muni bonds
- Bond sale unlikely to face penalty despite rising Covid cases
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When the Hartsfield-Jackson Atlanta International Airport offers nearly $342 million of municipal debt Tuesday, bond investors may wish they could go back in time.
When the airport, one of the busiest in the world, sold bonds during the depths of the pandemic in September 2020, it paid 49 basis points above AAA rated securities on debt due in 2030. Since then, the additional yield that investors could get on airport bonds has dwindled, lowering the yield penalty on those Atlanta bonds to 19 basis points in secondary market trading on Sept. 8.