FINANCIAL FEASIBILITY AND REPORTING
Jacobs Consultancy leads the industry in preparing financial feasibility
reports supporting the issuance of bonds to finance airport capital projects.
We have prepared feasibility reports that helped airport sponsors successfully
issue more than $40 billion in airport revenue bonds in the United States, and
we helped a number of clients with airport-related financing outside the United
States. In 2003, we assisted the Dallas/Fort Worth International Airport Board
with a $1.46 billion revenue bond issue, the largest airport financing in
U.S. history.
Jacobs Consultancy leads the industry in terms of the number of transactions
we have supported with feasibility studies. Airport sponsors repeatedly come
back to us for our feasibility services because they value our technical proficiency
and our approach, which produces reports that clearly address the concerns of
bond rating analysts and potential investors, and result in the most successful
(lowest interest cost) outcome for issuers.
We work closely with airport management, investment bankers, underwriters, bond
insurers, bond counsel, and other members of bond working groups to develop underlying
legal documents governing the framework for bond issues, develop financing plans,
assess airport fundamentals, and forecast key financial measures, including debt
service coverage and airline cost per enplaned passenger. Rating agency and other
investment analysts rely heavily on our analysis of the key factors and assumptions
underlying the forecast financial results in their assessments of the security
of the bonds. |
