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Results Chart for Delivery Method and Financing
From Public (Government) Sources to Producers
Credit Enhancements: The PRPA stands behind the concessionaire in the event obligations initially assumed by the PRPA (and now taken over by the concessionaire) are unmet, for example in the event of a default of the Lease. The concessionaire assumes and agrees to be bound by each FAA Agreement, including Passenger Facility Charge (PFC) applications, Records of Decision, and assurances previously made by the PRPA.
From Private Capital Markets Directly to Producers as Debt: The concession will finance the upfront $615 million "Leasehold Fee" by borrowing $350 million in the debt market (investment grade bonds) and by investing $265 million of its own equity. The balance of any additional funds needed during the concession term is expected to come from ongoing revenues associated with the operation of the airport.
From Producers as Equity: $265 million of its own equity