Wednesday, May 12, 2010

Washington Airports Authority Delays Sale of $650 Million in Bonds for Dulles Rail Financing

According to Bloomberg Business Week, the Metropolitan Washington Airports Authority has postponed a $650 million bond sale -- for the second time -- citing financial market volatility. The Authority says it will return to market when conditions have “normalized.”

According to the article, the authority’s offering to individual investors, scheduled for Monday, had been delayed to yesterday (Tuesday) because of market “uncertainty” about a financial rescue of highly indebted European nations including Greece, said Andrew Rountree, its acting chief financial officer, in an interview yesterday.
"The delay in the issue, which will help finance an extension of the U.S. capital’s passenger rail system to Washington Dulles International Airport, was announced in an e-mail from Rob Yingling, a spokesman for the authority. The postponement won’t have any adverse effect on the project, Yingling said."
The story noted that the authority will consider selling the bonds next week.

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