Metro Washington Airports Authority to sell $242.74 million debt

By Sheri Kasprzak

New York, June 21 - The Metropolitan Washington Airports Authority is set to price $242.74 million of series 2013 airport system revenue bonds, according to a preliminary official statement.

The offering includes $204.7 million of series 2013A AMT airport system revenue and refunding bonds, $27.35 million of series 2013B taxable airport system revenue refunding bonds and $10.69 million of series 2013C non-AMT airport system revenue refunding bonds.

The bonds will be sold on a negotiated basis with Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC as the lead managers. The co-managers are BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., Davenport & Co. LLC, Loop Capital Markets LLC, Raymond James/Morgan Keegan and U.S. Bancorp Investments Inc.

The 2013A bonds are due 2018 to 2033 with term bonds due in 2038 and 2043. The 2013B bonds are due 2016 to 2023. The 2013C bonds are due 2020 to 2022.

Proceeds will be used to finance airport capital improvements, as well as to refund existing debt.

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