Airport Sys Sub Lien Rev & Ref Bonds Ser 2025A (AMT)
$677,820,000 of principal outstanding at the end of fiscal year 2025.
Terms
- Par amount
- $677,820,000
- Final maturity
- 7/1/2055
- New money / refunding
- New money $636,892,309Refunding $40,927,691
- Closing date
- 8/13/2025
- Purpose
- Economic development
- 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 | Blaylock Van LLC | $123,915 Paid by the underwriter |
| Underwriter | BOKF NA | $123,915 Paid by the underwriter |
| Underwriter | Cabrera Capital Markets LLC | $123,915 Paid by the underwriter |
| Underwriter | Jefferies LLC | $330,441 Paid by the underwriter |
| Underwriter | Siebert Williams Shank & Co LLC | $330,441 Paid by the underwriter |
| Underwriter | Wells Fargo Bank | $1,032,628 Paid by the underwriter |
| Bond counsel | Bracewell LLP | $503,628 |
| Bond counsel | West & Associates LLP | $125,907 |
| Disclosure counsel | Cantu Harden Montoya LLP | $122,033 |
| Disclosure counsel | Greenberg Traurig LLP | $386,437 |
| Underwriter's counsel | Bratton & Associates | $54,226 Paid by the underwriter |
| Underwriter's counsel | Holland & Knight LLP | $81,338 Paid by the underwriter |
| Rating agency | Kroll | $86,198 |
| Rating agency | S&P | $106,537 |
| Paying agent, trustee and escrow | Bank of New York Mellon Trust Co | $750 |
| Printing, disclosure and data services | ImageMaster LLC | $9,685 |
| Engineers, accountants and other consultants | Banks Finley White & Co | $2,451 |
| Engineers, accountants and other consultants | McConnell & Jones LLP | $2,451 |
| Other costs | Ricondo & Associates Inc | $203,388 |
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$677,820,000 | Interest$712,259,939 | Total debt service$1,390,079,939 |
Costs of issuance
Download CSVOne-time costs to the issuer: $1,572,743, or $2.32 per $1,000 of par.
Shown below but not added: $2,276,153 paid by the underwriter.
Annual fees: $750.
| Cost? | Paid to? | Type? | Amount? | Per $1,000? |
|---|---|---|---|---|
| CostBond counsel 2 fees | 40.0% of the issuer's costs | Subtotal $629,535 | Per $1,000$0.93 | |
| Similar issues: median $0.69 per $1,000 | ||||
| CostCo-bond counsel | Paid toBracewell LLP | TypeOne time | Amount$503,627.75 | Per $1,000$0.74 |
| CostCo-bond counsel | Paid toWest & Associates LLP | TypeOne time | Amount$125,906.94 | Per $1,000$0.19 |
| CostDisclosure counsel 2 fees | 32.3% of the issuer's costs | Subtotal $508,470 | Per $1,000$0.75 | |
| Similar issues: median $0.37 per $1,000 | ||||
| CostCo-disclosure counsel | Paid toCantu Harden Montoya LLP | TypeOne time | Amount$122,032.88 | Per $1,000$0.18 |
| CostCo-disclosure counsel | Paid toGreenberg Traurig LLP | TypeOne time | Amount$386,437.45 | Per $1,000$0.57 |
| CostUnderwriter 7 fees | Subtotal $2,140,589 | Per $1,000Not added | ||
| CostUnderwriter's spread: expenses Counted as: Paid by the underwriter: shown, not added | Paid toNot reported | TypeOne time | Amount$75,334.40 | Per $1,000$0.11 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toBlaylock Van LLC | TypeOne time | Amount$123,915.30 | Per $1,000$0.18 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toBOKF NA | TypeOne time | Amount$123,915.30 | Per $1,000$0.18 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toCabrera Capital Markets LLC | TypeOne time | Amount$123,915.30 | Per $1,000$0.18 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toJefferies LLC | TypeOne time | Amount$330,440.80 | Per $1,000$0.49 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toSiebert Williams Shank & Co LLC | TypeOne time | Amount$330,440.80 | Per $1,000$0.49 |
| CostUnderwriter's spread: takedown Counted as: Paid by the underwriter: shown, not added | Paid toWells Fargo Bank | TypeOne time | Amount$1,032,627.50 | Per $1,000$1.52 |
| CostUnderwriter's counsel 2 fees | Subtotal $135,564 | Per $1,000Not added | ||
| CostCo-underwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toBratton & Associates | TypeOne time | Amount$54,225.60 | Per $1,000$0.08 |
| CostCo-underwriter's counsel Counted as: Paid by the underwriter: shown, not added | Paid toHolland & Knight LLP | TypeOne time | Amount$81,338.40 | Per $1,000$0.12 |
| CostRating agency 2 fees | 12.3% of the issuer's costs | Subtotal $192,734 | Per $1,000$0.28 | |
| Similar issues: median $0.51 per $1,000 | ||||
| CostRating agency | Paid toKroll | TypeOne time | Amount$86,197.83 | Per $1,000$0.13 |
| CostRating agency | Paid toS&P | TypeOne time | Amount$106,536.64 | Per $1,000$0.16 |
| CostOther 8 fees | 15.4% of the issuer's costs | Subtotal $242,004 | Per $1,000$0.36 | |
| Similar issues: median $0.12 per $1,000 | ||||
| CostAttorney General review | Paid toNot reported | TypeOne time | Amount$9,500.00 | Per $1,000$0.01 |
| CostAuditor | Paid toBanks Finley White & Co | TypeOne time | Amount$2,451.28 | Per $1,000Under $0.01 |
| CostAuditor | Paid toMcConnell & Jones LLP | TypeOne time | Amount$2,451.29 | Per $1,000Under $0.01 |
| CostOther costs | Paid toNot reported | TypeOne time | Amount$4,842.57 | Per $1,000$0.01 |
| CostOther costs | Paid toNot reported | TypeOne time | Amount$9,685.15 | Per $1,000$0.01 |
| CostOther costs | Paid toRicondo & Associates Inc | TypeOne time | Amount$203,388.13 | Per $1,000$0.30 |
| CostPaying agent and registrar Counted as: Annual fee: not added | Paid toBank of New York Mellon Trust Co | TypeAnnual | Amount$750.00 | Per $1,000Under $0.01 |
| CostPrinting | Paid toImageMaster LLC | TypeOne time | Amount$9,685.15 | Per $1,000$0.01 |
| CostTotal, 23 fees | Amount$3,849,646 | Per $1,000 | ||
| CostCosts to the issuer | Amount$1,572,743 | Per $1,000$2.32 | ||
Bond counsel 2 fees40.0%$629,535$0.93 per $1,000Similar issues: median $0.69 per $1,000
- Cost
- Co-bond counsel
- Paid to
- Bracewell LLP
- Type
- One time
- Amount
- $503,627.75
- Per $1,000
- $0.74
- Cost
- Co-bond counsel
- Paid to
- West & Associates LLP
- Type
- One time
- Amount
- $125,906.94
- Per $1,000
- $0.19
Disclosure counsel 2 fees32.3%$508,470$0.75 per $1,000Similar issues: median $0.37 per $1,000
- Cost
- Co-disclosure counsel
- Paid to
- Cantu Harden Montoya LLP
- Type
- One time
- Amount
- $122,032.88
- Per $1,000
- $0.18
- Cost
- Co-disclosure counsel
- Paid to
- Greenberg Traurig LLP
- Type
- One time
- Amount
- $386,437.45
- Per $1,000
- $0.57
Underwriter 7 fees$2,140,589Not added
- Cost
- Underwriter's spread: expenses
Counted as: Paid by the underwriter: shown, not added - Paid to
- Not reported
- Type
- One time
- Amount
- $75,334.40
- Per $1,000
- $0.11
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Blaylock Van LLC
- Type
- One time
- Amount
- $123,915.30
- Per $1,000
- $0.18
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- BOKF NA
- Type
- One time
- Amount
- $123,915.30
- Per $1,000
- $0.18
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Cabrera Capital Markets LLC
- Type
- One time
- Amount
- $123,915.30
- Per $1,000
- $0.18
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Jefferies LLC
- Type
- One time
- Amount
- $330,440.80
- Per $1,000
- $0.49
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Siebert Williams Shank & Co LLC
- Type
- One time
- Amount
- $330,440.80
- Per $1,000
- $0.49
- Cost
- Underwriter's spread: takedown
Counted as: Paid by the underwriter: shown, not added - Paid to
- Wells Fargo Bank
- Type
- One time
- Amount
- $1,032,627.50
- Per $1,000
- $1.52
Underwriter's counsel 2 fees$135,564Not added
- Cost
- Co-underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Bratton & Associates
- Type
- One time
- Amount
- $54,225.60
- Per $1,000
- $0.08
- Cost
- Co-underwriter's counsel
Counted as: Paid by the underwriter: shown, not added - Paid to
- Holland & Knight LLP
- Type
- One time
- Amount
- $81,338.40
- Per $1,000
- $0.12
Rating agency 2 fees12.3%$192,734$0.28 per $1,000Similar issues: median $0.51 per $1,000
- Cost
- Rating agency
- Paid to
- Kroll
- Type
- One time
- Amount
- $86,197.83
- Per $1,000
- $0.13
- Cost
- Rating agency
- Paid to
- S&P
- Type
- One time
- Amount
- $106,536.64
- Per $1,000
- $0.16
Other 8 fees15.4%$242,004$0.36 per $1,000Similar issues: median $0.12 per $1,000
- Cost
- Attorney General review
- Paid to
- Not reported
- Type
- One time
- Amount
- $9,500.00
- Per $1,000
- $0.01
- Cost
- Auditor
- Paid to
- Banks Finley White & Co
- Type
- One time
- Amount
- $2,451.28
- Per $1,000
- Under $0.01
- Cost
- Auditor
- Paid to
- McConnell & Jones LLP
- Type
- One time
- Amount
- $2,451.29
- Per $1,000
- Under $0.01
- Cost
- Other costs
- Paid to
- Not reported
- Type
- One time
- Amount
- $4,842.57
- Per $1,000
- $0.01
- Cost
- Other costs
- Paid to
- Not reported
- Type
- One time
- Amount
- $9,685.15
- Per $1,000
- $0.01
- Cost
- Other costs
- Paid to
- Ricondo & Associates Inc
- Type
- One time
- Amount
- $203,388.13
- Per $1,000
- $0.30
- Cost
- Paying agent and registrar
Counted as: Annual fee: not added - Paid to
- Bank of New York Mellon Trust Co
- Type
- Annual
- Amount
- $750.00
- Per $1,000
- Under $0.01
- Cost
- Printing
- Paid to
- ImageMaster LLC
- Type
- One time
- Amount
- $9,685.15
- Per $1,000
- $0.01
- Total, 23 fees
- $3,849,646
- Costs to the issuer
- $1,572,743$2.32 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.