DFW Home Mobile Site Contact Us Sign In
Home Pressroom

DFW International Airport Bond Refinancing Saves $36 Million

click for printer friendly version

New financing bonds for Rental Car Center will be paid off early

 
(DFW AIRPORT, TX – June 20, 2011) – DFW International Airport today continued its track record of good performance in the bond market by successfully refinancing the bonds for the Airport’s Rental Car Center.  The $111 million dollar deal will save DFW over $36 million over the life of the bonds. The net-present-value is a savings of $24 million, 21.5%.

The DFW bond sale resulted in a 3.76% average taxable interest rate for the newly-issued bonds, which will be paid off in 2021, three years earlier than the 2024 maturity date of the previous bonds.

“We managed to achieve the largest savings, percentage-wise, that we’ve ever done,” said Chris Poinsatte, Chief Financial Officer of DFW International Airport.  “This deal not only saves us money over the long term, it also frees up about $30 million in cash from the Facilities Improvement Corporation to be used on other airport projects.”

Morgan Keegan was the senior underwriter and Morgan Stanley was the co-senior underwriter for the refinancing deal. 
 
“It was very clear that the DFW Airport name helped achieve the very low interest rates,” said Buddy Kempf, Managing Director of Morgan Keegan. “There was a lot of interest in this refunding. We were four times oversubscribed.”

About DFW International Airport

Located halfway between the cities of Dallas and Fort Worth, Texas, DFW International Airport is the world's third busiest, offering nearly 1,800 flights per day and serving 57 million passengers a year. DFW provides non-stop service to 144 domestic and 47 international destinations worldwide. For four consecutive years, DFW has ranked in the top five for customer service among large airports worldwide in surveys conducted by Airports Council International. For the latest news, real-time flight information, parking availability or further details regarding the many services provided at DFW International Airport, log on to www.dfwairport.com.

Follow DFW International Airport On:

Facebook Twitter YouTube

About DFW

Administration
Development Plans
Investors/Financials
Founder's Plaza
Traffic Statistics
Publications
DFW Brand
Sustainability/Environmental
DFW Airport Tours

Contact Us

Customer Service
Lost and Found
Parking Citation FAQ’s

Press Room

DFW Fast Facts
Contact Public Affairs

Join the Team

Careers
Ambassador Volunteers
Accessibility

Newsletter Sign-up

Subscribe to the free DFW e-Newsletter to have the latest news about the Airport delivered to your inbox.
 
 Submit   

Stay Connected

Stay connected to DFW Airport. Friend us on Facebook, follow us on Twitter or watch us on YouTube. Click here to learn more.
FaceBook_24x24 Twitter_24x24 YouTube_24x24
Click here to visit the DFW Mobile Site © 2014 Dallas/Fort Worth International Airport Help Contact Legal