Bonds
Private Jet Muni-Borrower Bets on Connecticut’s Millionaires
- Clay Lacy Aviation deal signals return of muni junk bonds
- New Connecticut site to offer ‘remote parking facility’
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A company that caters to the Hollywood private-jet set is tapping the municipal market to help it expand in Connecticut, where it hopes to serve the uber rich.
The unrated $43.8 million deal is being sold through the Wisconsin Public Finance Authority, a conduit issuer, for Clay Lacy Aviation Inc. to fund new construction and improvements at the Waterbury-Oxford Airport in Oxford, Connecticut, which is located about 80 miles from Manhattan.