Citi to Lead $1 Billion DFW Airport Bond Sale in Texas Comeback

Deal would be biggest since gun-law temporarily shut bank out
Bank is looking to rebuild its standing in the Lone Star state

Planes on the tarmac at Dallas Fort Worth International Airport in Dallas, Texas. — Planes on the tarmac at Dallas Fort Worth International Airport in Dallas, Texas.
Photographer: Angus Mordant/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Danielle Moran and Amanda Albright

April 4, 2022 at 5:47 PM UTC

This article is for subscribers only.

Citigroup Inc. is underwriting a $1.2 billion bond sale for the Dallas Fort Worth International Airport, the largest deal it has managed since reentering the Texas municipal-bond market after being temporarily sidelined last year over the bank’s firearms policy.

The transaction would be a major win for the bank’s public finance business, which has seen its standing in the Lone Star State slide after a GOP law sought to keep companies that “discriminate” against firearms entities from working in Texas. Citi, which limits its business with gun retailers but has repeatedly said it complies with the law, has only underwritten four Texas deals amounting to $216 million since the legislation went into effect in September.