OREANDA-NEWS. August 09, 2013. Denver International Airport (DIA) has recently closed on the sale of USD720 million. Airport System Subordinate Revenue Bonds at an all - in interest rate of 4.94 percent.

The bond sale provides USD million of funding for DIA’s six - year capital improvement plan, which includes components for the South Terminal Redevelopment Program, a new parking garage, 5 - gate expansion and other capital improvement projects.

The South Terminal Redevelopment Program will create an on - site hotel and a Public Transit Center that will accommodate a rail line connecting DIA with downtown’s Denver Union Station.

The South Terminal Redevelopment Program is slated for completion and hotel opening in 2015, with rail service starting in 2016.

“Denver International Airport is a vital economic engine for the entire Rocky Mountain region,” said Mayor Michael B. Hancock.

“The positive response to this sale illustrates that it is one of the most financially sound airports in the world and expands on a critical fact that Denver is a great place to do business.”

The sale was conducted by a team of six investment banks with Citi serving as the lead underwriter for the transaction.

The transaction drew demand from more than 80 investors with significant participation from a broad cross - section of buyers.

“The success of this bond sale reflects the strength of Denver International Airport as an enterprise: our solid management and our fiscal planning and execution,” said Manager of Aviation Kim Day.