Department of Airports of the City of Los Angeles
Los Angeles International Airport
Senior Revenue Bonds
2015 Series D (AMT) & 2015 Series E (Non-AMT)
Siebert Brandford Shank leads LAWA deal with lower long-term spread than any prior airport underwriting
Our firm served as senior manager for the Department of Airports of the City of Los Angeles (LAWA) $296 million 2015 Series D (AMT) and $28 million 2015 Series E (Non-AMT) Senior Revenue Bonds which priced on November 4th, 2015. Bond proceeds will fund a portion of LAWA’s $5.8 billion CIP, enhancing revenue generation capacity and operations at the nation’s 2nd busiest airport.
As a result of our firm’s successful underwriting performance, LAWA increased the size of the AMT series by approximately $25 million. The 2041 term bond of the 2015 Series D AMT Bonds were priced with a spread of 55 basis points—the lowest long-term AMT spread ever for an airport financing.