Investor Presentaiton
HAS
TRANSACTION SUMMARY
Par Amount*:
Pricing*:
Closing*:
Security:
Use of Proceeds:
Ratings:
Call Feature*:
Interest Payments*:
Maturity Dates:
Tax Status:
Financing Highlights
✈
Series 2020A (AMT)
$135,000,000
Series 2020B (Non-AMT)
$75,000,000
September 16 and 17, 2020*
October 20, 2020*
Series 2020C (Taxable)
$625,000,000
The Series 2020 Bonds are special obligations of the City which, together with the Outstanding Subordinate Lien Bonds and any Additional
Subordinate Lien Bonds hereafter issued, are payable from, and equally and ratably secured by, a lien on the Net Revenues of the Houston Airport
System, subject and subordinate to the prior and superior lien of Outstanding Senior Lien Obligations and Additional Senior Lien Obligations, if any, all
as defined herein, and certain Funds established pursuant to the Ordinance
(i) refund the 2020A Refunded Notes and (ii)
pay related costs of issuance of the Series
2020A Bonds
Par call on date TBD
2025, 2027-2031, 2033 - 2047*
Tax-Exempt, Subject to AMT
(i) refund the 2020B Refunded Bonds and (ii)
pay related costs of issuance of the Series
2020B Bonds
S&P: A/ Moody's: A1
Not subject to redemption prior to maturity
January 1 and July 1, commencing January 1, 2021
2026-2030*
Tax-Exempt, Non-AMT(Private Activity Bonds)
Subordinate Lien bonds, but no long term Senior Lien Bonds are outstanding
(i) refund the 2020C Refunded Bonds and (ii)
pay related costs of issuance of the Taxable
Series 2020C Bonds
Par call on date TBD
2022-2032*
Federally Taxable
✈ Series 2020A: Approximately $150M of outstanding Senior Lien Commercial Paper will be refunded as subordinate lien fixed rate debt (AMT)
Series 2020B: The balance of the Series 2010 VRDO's ($91.9 million) will be refunded as subordinate lien fixed rate debt to take advantage of low
rates and eliminate letter of credit fees
✈
Series 2020C: Refunding existing maturities through 2032* as subordinate lien fixed rate debt to achieve present value savings, Refunding Bonds
approximately $625 million in par
*Preliminary, subject to change
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