Cramped Airports Fuel Muni Borrowing Boom as Travel Surges.

An influx of travelers passing through US airports has created a frenzied borrowing boom to raise cash for expansion projects.

Facilities in South Carolina, California, New York and Florida have plans to tap the municipal bond market in the coming weeks, adding to the $12.3 billion of airport debt already sold this year, according to data compiled by Bloomberg. That volume marks a more than 100% increase from the same period a year ago. Proceeds from the sales will be used to finance new renovation projects designed to improve passengers’ experiences.

“Airports are congested, there’s a lot more flights and we just need more improvements,” said Mikhail Foux, head of municipal strategy at Barclays Plc. “Traffic through airports is through the roof right now.”

Continue reading.

Bloomberg Markets

By Lily Meier

September 19, 2024



Copyright © 2025 Bond Case Briefs | bondcasebriefs.com