Airport Sys Spec Facil Rev Bonds Ser 2024B (United Airlines Inc Terminal Imp Proj) (AMT)
$1,100,000,000 of principal outstanding at the end of fiscal year 2025.
Terms
- Par amount
- $1,100,000,000
- Final maturity
- 7/1/2040
- New money / refunding
- New money $1,100,000,000Refunding Not reported
- Closing date
- 12/2/2024
- Purpose
- Commerce
- Sale
- Negotiated
- Pledge
- Revenue supported
- Fiscal year issued
- 2025
Changes in BRB's data
No changes since this site began recording on October 6, 2026.
Source: BRB data loads; as of 10/17/2026.
Finance team
Download CSV| Role? | Firm? | Fees paid? |
|---|---|---|
| Underwriter | Bank of America | $3,093,750 |
| Underwriter | CUSIP Global Services | $620 |
| Underwriter | ImageMaster LLC | $2,500 |
| Underwriter | Ipreo LLC | $110,252 |
| Underwriter | JP Morgan Chase & Co | $1,031,250 |
| Underwriter | Loop Capital Markets LLC | $687,500 |
| Underwriter | Lumesis Inc | $825 |
| Underwriter | Mesirow Financial Holdings Inc | $229,167 |
| Underwriter | Morgan Stanley | $687,500 |
| Underwriter | Raymond James & Associates Inc | $687,500 |
| Underwriter | Siebert Williams Shank & Co LLC | $229,167 |
| Underwriter | The Depository Trust Company | $975 |
| Underwriter | Wells Fargo Bank | $229,167 |
| Financial advisor | Masterson Advisors LLC | $17,800 |
| Financial advisor | RSI Group LLC | $7,200 |
| Bond counsel | Bates Law Firm PLLC | $85,000 |
| Bond counsel | Bracewell LLP | $815,000 |
| Underwriter's counsel | O Melveny & Myers LLP | $430,000 |
| Other counsel | Locke Lord LLP | $30,000 |
| Other counsel | Mayer Brown LLP | $300,000 |
| Rating agency | Fitch | $874,500 |
| Rating agency | Moodys | $874,500 |
| Paying agent, trustee and escrow | Bank of New York Mellon Trust Co | $11,000 |
| Printing, disclosure and data services | ImageMaster LLC | $2,490 |
From the costs of issuance reported to BRB. A firm that was not paid a reported fee is not listed.
Debt outstanding by fiscal year
Fiscal year 2025
- Principal
- Interest
| Fiscal year? | Principal? | Interest? | Total debt service? |
|---|---|---|---|
| Fiscal year2025 | Principal$1,100,000,000 | Interest$709,490,789 | Total debt service$1,809,490,789 |
Costs of issuance
Download CSVOne-time costs to the issuer: $10,546,662, or $9.59 per $1,000 of par.
Annual fees: $6,000.
| Cost? | Paid to? | Type? | Amount? | Per $1,000? |
|---|---|---|---|---|
| CostBond counsel 2 fees | 8.5% of the issuer's costs | Subtotal $900,000 | Per $1,000$0.82 | |
| Similar issues: median $0.71 per $1,000 | ||||
| CostBond counsel | Paid toBracewell LLP | TypeOne time | Amount$815,000.00 | Per $1,000$0.74 |
| CostCo-bond counsel | Paid toBates Law Firm PLLC | TypeOne time | Amount$85,000.00 | Per $1,000$0.08 |
| CostFinancial advisor 2 fees | 0.2% of the issuer's costs | Subtotal $25,000 | Per $1,000$0.02 | |
| Similar issues: median $0.57 per $1,000 | ||||
| CostCo-financial advisor | Paid toRSI Group LLC | TypeOne time | Amount$7,200.00 | Per $1,000$0.01 |
| CostFinancial advisor | Paid toMasterson Advisors LLC | TypeOne time | Amount$17,800.00 | Per $1,000$0.02 |
| CostUnderwriter 18 fees | 66.4% of the issuer's costs | Subtotal $7,005,172 | Per $1,000$6.37 | |
| Similar issues: median $3.63 per $1,000 | ||||
| CostUnderwriter's spread: expenses | Paid toNot reported | TypeOne time | Amount$15,000.00 | Per $1,000$0.01 |
| CostUnderwriter's spread: expenses | Paid toCUSIP Global Services | TypeOne time | Amount$620.00 | Per $1,000Under $0.01 |
| CostUnderwriter's spread: expenses | Paid toImageMaster LLC | TypeOne time | Amount$2,500.00 | Per $1,000Under $0.01 |
| CostUnderwriter's spread: expenses | Paid toIpreo LLC | TypeOne time | Amount$33,000.00 | Per $1,000$0.03 |
| CostUnderwriter's spread: expenses | Paid toIpreo LLC | TypeOne time | Amount$8,987.27 | Per $1,000$0.01 |
| CostUnderwriter's spread: expenses | Paid toIpreo LLC | TypeOne time | Amount$240.00 | Per $1,000Under $0.01 |
| CostUnderwriter's spread: expenses | Paid toIpreo LLC | TypeOne time | Amount$45.00 | Per $1,000Under $0.01 |
| CostUnderwriter's spread: expenses | Paid toIpreo LLC | TypeOne time | Amount$67,980.00 | Per $1,000$0.06 |
| CostUnderwriter's spread: expenses | Paid toLumesis Inc | TypeOne time | Amount$825.00 | Per $1,000Under $0.01 |
| CostUnderwriter's spread: expenses | Paid toThe Depository Trust Company | TypeOne time | Amount$975.00 | Per $1,000Under $0.01 |
| CostUnderwriter's spread: takedown | Paid toBank of America | TypeOne time | Amount$3,093,750.00 | Per $1,000$2.81 |
| CostUnderwriter's spread: takedown | Paid toJP Morgan Chase & Co | TypeOne time | Amount$1,031,250.00 | Per $1,000$0.94 |
| CostUnderwriter's spread: takedown | Paid toLoop Capital Markets LLC | TypeOne time | Amount$687,500.00 | Per $1,000$0.63 |
| CostUnderwriter's spread: takedown | Paid toMesirow Financial Holdings Inc | TypeOne time | Amount$229,166.67 | Per $1,000$0.21 |
| CostUnderwriter's spread: takedown | Paid toMorgan Stanley | TypeOne time | Amount$687,500.00 | Per $1,000$0.63 |
| CostUnderwriter's spread: takedown | Paid toRaymond James & Associates Inc | TypeOne time | Amount$687,500.00 | Per $1,000$0.63 |
| CostUnderwriter's spread: takedown | Paid toSiebert Williams Shank & Co LLC | TypeOne time | Amount$229,166.67 | Per $1,000$0.21 |
| CostUnderwriter's spread: takedown | Paid toWells Fargo Bank | TypeOne time | Amount$229,166.67 | Per $1,000$0.21 |
| CostUnderwriter's counsel 1 fee | 4.1% of the issuer's costs | Subtotal $430,000 | Per $1,000$0.39 | |
| Similar issues: median $0.47 per $1,000 | ||||
| CostUnderwriter's counsel | Paid toO Melveny & Myers LLP | TypeOne time | Amount$430,000.00 | Per $1,000$0.39 |
| CostRating agency 2 fees | 16.6% of the issuer's costs | Subtotal $1,749,000 | Per $1,000$1.59 | |
| Similar issues: median $0.31 per $1,000 | ||||
| CostRating agency | Paid toFitch | TypeOne time | Amount$874,500.00 | Per $1,000$0.80 |
| CostRating agency | Paid toMoodys | TypeOne time | Amount$874,500.00 | Per $1,000$0.80 |
| CostOther 6 fees | 4.1% of the issuer's costs | Subtotal $437,490 | Per $1,000$0.40 | |
| Similar issues: median $0.09 per $1,000 | ||||
| CostBorrower counsel | Paid toMayer Brown LLP | TypeOne time | Amount$300,000.00 | Per $1,000$0.27 |
| CostContingency | Paid toNot reported | TypeOne time | Amount$100,000.00 | Per $1,000$0.09 |
| CostPrinting | Paid toImageMaster LLC | TypeOne time | Amount$2,490.00 | Per $1,000Under $0.01 |
| CostTrustee | Paid toBank of New York Mellon Trust Co | TypeOne time | Amount$5,000.00 | Per $1,000Under $0.01 |
| CostTrustee Counted as: Annual fee: not added | Paid toBank of New York Mellon Trust Co | TypeAnnual | Amount$6,000.00 | Per $1,000$0.01 |
| CostTrustee counsel | Paid toLocke Lord LLP | TypeOne time | Amount$30,000.00 | Per $1,000$0.03 |
| CostTotal, 31 fees | Amount$10,552,662 | Per $1,000 | ||
| CostCosts to the issuer | Amount$10,546,662 | Per $1,000$9.59 | ||
Bond counsel 2 fees8.5%$900,000$0.82 per $1,000Similar issues: median $0.71 per $1,000
- Cost
- Bond counsel
- Paid to
- Bracewell LLP
- Type
- One time
- Amount
- $815,000.00
- Per $1,000
- $0.74
- Cost
- Co-bond counsel
- Paid to
- Bates Law Firm PLLC
- Type
- One time
- Amount
- $85,000.00
- Per $1,000
- $0.08
Financial advisor 2 fees0.2%$25,000$0.02 per $1,000Similar issues: median $0.57 per $1,000
- Cost
- Co-financial advisor
- Paid to
- RSI Group LLC
- Type
- One time
- Amount
- $7,200.00
- Per $1,000
- $0.01
- Cost
- Financial advisor
- Paid to
- Masterson Advisors LLC
- Type
- One time
- Amount
- $17,800.00
- Per $1,000
- $0.02
Underwriter 18 fees66.4%$7,005,172$6.37 per $1,000Similar issues: median $3.63 per $1,000
- Cost
- Underwriter's spread: expenses
- Paid to
- Not reported
- Type
- One time
- Amount
- $15,000.00
- Per $1,000
- $0.01
- Cost
- Underwriter's spread: expenses
- Paid to
- CUSIP Global Services
- Type
- One time
- Amount
- $620.00
- Per $1,000
- Under $0.01
- Cost
- Underwriter's spread: expenses
- Paid to
- ImageMaster LLC
- Type
- One time
- Amount
- $2,500.00
- Per $1,000
- Under $0.01
- Cost
- Underwriter's spread: expenses
- Paid to
- Ipreo LLC
- Type
- One time
- Amount
- $33,000.00
- Per $1,000
- $0.03
- Cost
- Underwriter's spread: expenses
- Paid to
- Ipreo LLC
- Type
- One time
- Amount
- $8,987.27
- Per $1,000
- $0.01
- Cost
- Underwriter's spread: expenses
- Paid to
- Ipreo LLC
- Type
- One time
- Amount
- $240.00
- Per $1,000
- Under $0.01
- Cost
- Underwriter's spread: expenses
- Paid to
- Ipreo LLC
- Type
- One time
- Amount
- $45.00
- Per $1,000
- Under $0.01
- Cost
- Underwriter's spread: expenses
- Paid to
- Ipreo LLC
- Type
- One time
- Amount
- $67,980.00
- Per $1,000
- $0.06
- Cost
- Underwriter's spread: expenses
- Paid to
- Lumesis Inc
- Type
- One time
- Amount
- $825.00
- Per $1,000
- Under $0.01
- Cost
- Underwriter's spread: expenses
- Paid to
- The Depository Trust Company
- Type
- One time
- Amount
- $975.00
- Per $1,000
- Under $0.01
- Cost
- Underwriter's spread: takedown
- Paid to
- Bank of America
- Type
- One time
- Amount
- $3,093,750.00
- Per $1,000
- $2.81
- Cost
- Underwriter's spread: takedown
- Paid to
- JP Morgan Chase & Co
- Type
- One time
- Amount
- $1,031,250.00
- Per $1,000
- $0.94
- Cost
- Underwriter's spread: takedown
- Paid to
- Loop Capital Markets LLC
- Type
- One time
- Amount
- $687,500.00
- Per $1,000
- $0.63
- Cost
- Underwriter's spread: takedown
- Paid to
- Mesirow Financial Holdings Inc
- Type
- One time
- Amount
- $229,166.67
- Per $1,000
- $0.21
- Cost
- Underwriter's spread: takedown
- Paid to
- Morgan Stanley
- Type
- One time
- Amount
- $687,500.00
- Per $1,000
- $0.63
- Cost
- Underwriter's spread: takedown
- Paid to
- Raymond James & Associates Inc
- Type
- One time
- Amount
- $687,500.00
- Per $1,000
- $0.63
- Cost
- Underwriter's spread: takedown
- Paid to
- Siebert Williams Shank & Co LLC
- Type
- One time
- Amount
- $229,166.67
- Per $1,000
- $0.21
- Cost
- Underwriter's spread: takedown
- Paid to
- Wells Fargo Bank
- Type
- One time
- Amount
- $229,166.67
- Per $1,000
- $0.21
Underwriter's counsel 1 fee4.1%$430,000$0.39 per $1,000Similar issues: median $0.47 per $1,000
- Cost
- Underwriter's counsel
- Paid to
- O Melveny & Myers LLP
- Type
- One time
- Amount
- $430,000.00
- Per $1,000
- $0.39
Rating agency 2 fees16.6%$1,749,000$1.59 per $1,000Similar issues: median $0.31 per $1,000
- Cost
- Rating agency
- Paid to
- Fitch
- Type
- One time
- Amount
- $874,500.00
- Per $1,000
- $0.80
- Cost
- Rating agency
- Paid to
- Moodys
- Type
- One time
- Amount
- $874,500.00
- Per $1,000
- $0.80
Other 6 fees4.1%$437,490$0.40 per $1,000Similar issues: median $0.09 per $1,000
- Cost
- Borrower counsel
- Paid to
- Mayer Brown LLP
- Type
- One time
- Amount
- $300,000.00
- Per $1,000
- $0.27
- Cost
- Contingency
- Paid to
- Not reported
- Type
- One time
- Amount
- $100,000.00
- Per $1,000
- $0.09
- Cost
- Printing
- Paid to
- ImageMaster LLC
- Type
- One time
- Amount
- $2,490.00
- Per $1,000
- Under $0.01
- Cost
- Trustee
- Paid to
- Bank of New York Mellon Trust Co
- Type
- One time
- Amount
- $5,000.00
- Per $1,000
- Under $0.01
- Cost
- Trustee
Counted as: Annual fee: not added - Paid to
- Bank of New York Mellon Trust Co
- Type
- Annual
- Amount
- $6,000.00
- Per $1,000
- $0.01
- Cost
- Trustee counsel
- Paid to
- Locke Lord LLP
- Type
- One time
- Amount
- $30,000.00
- Per $1,000
- $0.03
- Total, 31 fees
- $10,552,662
- Costs to the issuer
- $10,546,662$9.59 per $1,000
Per $1,000 is computed here from each amount and the par. Subtotals and totals are rounded to the whole dollar.
How these costs are counted
- Net spread counted once. Takedown, management fee, spread expenses and underwriting risk make up the underwriter's spread. Where an issue reports an amount for any of them, its row for the underwriter's net spread (the same spread as one figure) is shown as a cross-check and not added.
- Paid by the underwriter: shown, not added to the issuer's costs. Rows BRB's table marks as paid by the underwriter (whether the underwriter paid the fee) are shown and count in the fees paid to that firm and role, but not in the issuer's one-time costs, per-$1,000 figures or medians.
- The issuer's one-time costs add every other one-time row: not annual fees, not rows paid by the underwriter, not the cross-check. Per $1,000 of par divides them by the issue's par and multiplies by 1,000 (computed here).
- Missing, zero and negative amounts. A row with no amount shows "Not reported" and is added to nothing. A reported $0 counts as $0, in sums and medians. A negative amount is added as reported; where a role's or firm's one-time costs on an issue come to less than $0, that issue is left out of the medians.
- Similar issues. The median per $1,000 of par for that group across other issues by the same type of issuer, with the same pledge, sold the same way, a par half to twice this one's and a fiscal year within 3 years, shown when at least 5 report it.
- Per $1,000 on each row is computed here from its amount and the par, not taken from BRB's rounded figure.
EMMA links are added as each issue is matched.
Source: Local Issuance Fee By Year (updated by the publisher 10/6/2026); Debt Outstanding By Issuance Local By Year (updated by the publisher 9/9/2026). Loaded here 10/17/2026.
Texas fiscal years run September 1 to August 31.
Issuer names are shown as published, without source footnote letters.
Figures are as reported to the agency and have not been independently verified.