Tulsa Airports Improvement Trust prepares $76.36 million bond offering

By Sheri Kasprzak

New York, Feb. 10 – The Tulsa Airports Improvement Trust is slated to price $76.36 million of series 2015 general airport revenue bonds, according to a preliminary official statement.

The offering includes $44,265,000 of series 2015A AMT bonds, $6.68 million of series 2015B AMT refunding bonds, $810,000 of series 2015C non-AMT bonds and $24,605,000 of series 2015D non-AMT refunding bonds.

The bonds (Baa1/BBB+/) will be sold on a negotiated basis with RBC Capital Markets LLC as the senior manager and Piper Jaffray & Co. and Stifel, Nicolaus & Co. Inc. as the co-managers.

The 2015A bonds are due 2015 to 2035 with a term bond due in 2045. The 2015B bonds are due 2015 to 2018. The 2015C bonds are due 2015 to 2035 with a term bond due in 2045. The 2015D bonds are due 2015 to 2028.

Proceeds will be used to finance the construction, acquisition, renovation and repair of an existing parking garage at Tulsa International Airport, as well as to refund the trust’s series 2009B-C airport revenue bonds.

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