New Orleans Aviation plans $590 million airport revenue bond offering

By Sheri Kasprzak

New York, Feb. 23 – The New Orleans Aviation Board is expected to price $590 million of series 2015 general airport revenue bonds for the Louis Armstrong New Orleans International Airport, according to a preliminary official statement.

The deal includes $57 million of series 2015A non-AMT North Terminal project bonds and $533 million of series 2015B AMT North Terminal project bonds.

The bonds (A3/A-/A-) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are Backstrom McCarley Berry & Co., Blaylock Beal Van LLC, Dorsey & Co. Inc., Harvestons Securities Inc., Loop Capital Markets LLC, Siebert Brandford Shank & Co. LLC and Sisung Securities Corp.

The maturities have not been set.

Proceeds will be used to construct a new North Terminal and related improvements, including aircraft aprons, a parking garage, a central utility plant and roadway and ground transportation systems.

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