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NASHVILLE, Tennessee – The Chief Financial Officer of the Metropolitan Nashville Airport Authority (MNAA), Marge Basrai, has been selected as one of The Bond Buyer’s “2020 Trailblazing Women in Finance” for her outstanding commitment to public finance and contributions made to the public sector. She is one of just six public sector finance professionals recognized nationwide for the award.
“Marge Basrai is a passionate leader and financial expert of incalculable value to our organization,” said Doug Kreulen, president and CEO of MNAA. “Her expertise in airport financing and the bond market are evident by the strength of both Nashville International Airport® and John C. Tune Airport®. I appreciate her talent and I cannot think of anyone more deserving of this recognition. She is, simply, one of the best in her field and I am proud to work with her.”
The Bond Buyer provides news, analysis and data for the entire municipal finance community through its website, e-newsletters and alerts, and a daily print edition.
Ms. Basrai, CPA, CGMA, CM, is a key member of the MNAA executive leadership team and is responsible for planning, organizing and directing the multi-faceted financial and fiscal management functions of both Nashville International Airport and John C. Tune Airport. Areas of responsibility include financial planning and analysis, budgeting and accounting, financial investment, debt management, grant financial administration, purchasing, and oversight of rates and charges. Other responsibilities include overseeing the implementation of improved systems, methods and procedures related to MNAA’s financial matters.
Ms. Basrai has 20 years of accounting and financial management service in the aviation industry. Previously, she served as vice president and controller for Wayne County Airport Authority, which operates Detroit Metropolitan Airport, Willow Run Airport and its airport hotel. She is a Certified Public Accountant, Charted Global Management Accountant and a Certified Member of the American Association of Airport Executives. Ms. Basrai holds a BS in accounting and an MBA, both from Michigan State University.
About Nashville International Airport
With nearly 18.3 million passengers in 2019, Nashville International Airport has been one of the fastest growing airports in North America. According to a recent study, in 2019 alone, BNA® generated more than $8.1 billion in total economic impact, supported more than 76,000 jobs in the region, and produced more than $443 million in state, local and federal taxes. BNA receives no local tax dollars. For more information, visit flynashville.com. Follow us on Facebook: @NashvilleInternationalAirport, Twitter: @Fly_Nashville and Instagram: @FlyNashville. Learn more about BNA® Vision, our growth and expansion plan for the airport, at BNAVision.com.
Nashville airport deal launches $3 billion capital program
NOTICE OF POTENTIAL BOND ISSUANCE
METROPOLITAN NASHVILLE AIRPORT AUTHORITY
October 17, 2019
The Metropolitan Nashville Airport Authority (the "Authority") is proposing to issue one or more series of not to exceed $1,000,000,000* in aggregate principal amount of its Subordinate Airport Revenue Bonds (collectively, the "Series 2019 Subordinate Bonds").
If and when issued, the Series 2019 Subordinate Bonds will be the first series of Subordinate Bonds issued under and pursuant to Resolution No. 2019-15 adopted by the Board of Commissioners of the Authority (the "Board") on October 16, 2019 (the "Master Subordinate Resolution"), as amended and supplemented from time to time, and particularly as supplemented by that certain First Supplemental Resolution, authorizing the issuance of the Series 2019 Subordinate Bonds, adopted by the Board on October 16, 2019 (the "First Supplemental Resolution," and together with the Master Subordinate Resolution, the "Subordinate Bond Resolution"). Unless otherwise defined herein, capitalized terms used in this Notice shall have the meanings set forth in the Subordinate Bond Resolution.
If and when issued, the Series 2019 Subordinate Bonds will provide funds to, among other things: (a) pay all or a portion of the costs of certain elements of the Authority's capital improvement program at Nashville International Airport (the "Airport"); (b) refinance certain short-term obligations; (c) fund capitalized interest on the Series 2019 Subordinate Bonds; (d) fund a deposit to the Subordinate Bond Reserve Fund to meet the Subordinate Bond Reserve Fund Requirement; and (e) pay certain costs of issuance related to the Series 2019 Subordinate Bonds.
The Series 2019 Subordinate Bonds are currently expected to price during the week of December 2, 2019* through a syndicate led by BofA Securities, Inc., as lead underwriter, and FTN Financial Capital Markets, J.P. Morgan Securities LLC, Raymond James & Associates, Inc., Samuel A. Ramirez & Co., Inc., Siebert Cisneros Shank & Co., L.L.C., and UBS Financial Services, Inc. The size, timing, and structure of the potential transaction are subject to market conditions. The Authority reserves the right to change the timing and size of the sale or not issue any or certain of the Series 2019 Subordinate Bonds.
The Series 2019 Subordinate Bonds, if and when issued, will be special limited obligations of the Authority equally and ratably secured by a pledge of and lien on the Net Revenues, subject and subordinate to the pledge of and lien on the Net Revenues created in the Senior Bond Resolution for the payment and security of the Senior Bonds, including the Outstanding Senior Bonds and any other Additional Senior Bonds and are senior to the payment obligations of the Authority under the Note Purchase Agreement as to the pledge of and lien on the Net Revenues.
This Notice does not constitute an offer to sell or the solicitation of an offer to buy any Series 2019 Subordinate Bonds nor will there be any sale of Series 2019 Subordinate Bonds by any person in any jurisdiction in which it is unlawful for such person to make an offer, solicitation, or sale. Any such offer or solicitation will only be made pursuant to an official statement that prospective investors should review in its entirety before making any investment decision. No investment decision should be made in reliance upon the information contained in the Notice.
The publication of this Notice does not constitute or imply any representation (a) that the foregoing is material to investors, (b) regarding any other financial, operating or other information about the Authority, the Airport System, which includes the Airport, or the Authority's outstanding bonds or (c) that no other circumstances or events have occurred or that no other information exists concerning the Authority, the Series 2019 Subordinate Bonds, the Airport System, which includes the Airport, the proposed structure of the financing, or the Authority's outstanding bonds which may have a bearing on the financial condition of the Authority, the security for the Series 2019 Subordinate Bonds or the Authority's outstanding bonds, or an investor's decision to buy, sell or hold the Series 2019 Subordinate Bonds or any other bonds of the Authority.
By making this voluntary filing, the Authority does not undertake to make any additional filings not otherwise required by its undertakings in connection with Rule 15c2-12 promulgated by the Securities and Exchange Commission. The Authority disclaims any obligation to update this filing.
* Preliminary; subject to change.