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THE BOND BUYER: O'Hare lands savings as hub status outweighs airport sector stress

September 29, 2020

Chicago paid slightly wider-than-before spreads for its latest O'Hare International Airport deal, but still booked considerable refinancing savings. "The spreads definitely widened from the last deal, but it's a fantastic pricing because air travel is so far down as this is the part of the economy that is bearing the brunt" of the pandemic's hit, said Brian Battle, director of trading at Performance Trust Capital Partners. "The fact that the spread is not more than 90 basis points is a testament to how good a credit O'Hare is and what an important hub it is."

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