{"id":30913,"date":"2025-02-17T19:27:59","date_gmt":"2025-02-17T19:27:59","guid":{"rendered":"https:\/\/stateaviationjournal.com\/?p=30913"},"modified":"2025-02-17T19:28:20","modified_gmt":"2025-02-17T19:28:20","slug":"hawaii-airports-system-successfully-issues-849-million-in-bonds-representing-largest-issue-in-its-history","status":"publish","type":"post","link":"https:\/\/stateaviationjournal.com\/index.php\/state-news\/hawaii\/hawaii-airports-system-successfully-issues-849-million-in-bonds-representing-largest-issue-in-its-history\/%20","title":{"rendered":"Hawai\u2019i Airports System Successfully Issues $849 Million in Bonds, Representing Largest Issue in Its History"},"content":{"rendered":"\n

The Hawai\u2018i Department of Transportation (HDOT) has announced that the state\u2019s Airports System<\/a> has successfully raised $849 million in bond financing to fund approximately $600 million of essential projects to upgrade and expand airport infrastructure, including runway repairs, terminal renovations, security enhancements and the construction of new facilities. The financing also provides for a refinancing of $233 million of existing debt, generating over $23 million of interest cost savings. The transaction represents the largest bond issuance for the Airports System in its history.<\/p>\n\n\n\n

The bonds received ratings of Aa3 \/ AA- \/ AA- from Moody\u2019s, S&P and Fitch, respectively. This includes a Moody\u2019s upgrade to Aa3 from A1, which cited the Airports System\u2019s strong passenger traffic performance, the state\u2019s economic resilience and the state\u2019s enduring desirability as a premier tourism destination. This marks the first time in its history that the Airports System has double-A ratings from the three rating agencies. S&P Global Ratings and Fitch Ratings both affirmed the Airports System\u2019s bonds and the outlook as stable ahead of the sale.<\/p>\n\n\n\n

\u201cThis successful issuance reflects the bond market\u2019s confidence in the future of Hawai\u2018i and the critical role our airports system has in driving economic growth,\u201d said Governor Josh Green, M.D. \u201cWe are grateful for the support of our investors and are excited to continue developing infrastructure that benefits both our residents and visitors.\u201d<\/p>\n\n\n\n

The Series 2025 Airports System Revenue Bonds attracted significant investor interest during pricing, receiving $4.9 billion of orders, or 5.8 times the amount of bonds being offered. Orders included more than 100 distinct investors representing a broad range of institutions and mom-and-pop retail investors from Hawai\u2018i and across the nation.<\/p>\n\n\n\n

\u201cAs an island state, air travel is critical for our residents to connect to the world, our visitors to support our economy, and our military to defend our country,\u201d said Hawai\u2018i Department of Transportation Director Ed Sniffen. \u201cThis bond issuance provides critical funding that will allow us to deliver on our commitment to continue upgrading airport infrastructure, modernizing facilities and improving operational efficiencies.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Hawai\u2018i Department of Transportation (HDOT) has announced that the state\u2019s Airports System has successfully raised $849 million in bond financing to fund approximately $600 million of essential projects to upgrade and expand airport infrastructure, including runway repairs, terminal renovations, security enhancements and the construction of new facilities. The financing also provides for a refinancing […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-30913","post","type-post","status-publish","format-standard","hentry","category-hawaii"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/30913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/comments?post=30913"}],"version-history":[{"count":2,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/30913\/revisions"}],"predecessor-version":[{"id":30915,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/posts\/30913\/revisions\/30915"}],"wp:attachment":[{"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/media?parent=30913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/categories?post=30913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateaviationjournal.com\/index.php\/wp-json\/wp\/v2\/tags?post=30913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}