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DENVER-The city has refinanced $425 million in Denver International Airport Bonds. The refinancing of the 2001 A& B series bonds issued in 1991 and 1996 will save taxpayers about $120 million.

“I am pleased that the financial community believes in and continues to demonstrate confidence in the success of DIA,” says Mayor Wellington Webb, who traveled to New York City to oversee the bond refinancing. ”The reduction in interest expense directly benefits the traveling public who use the airport and is a continuation of our commitment to actively manage and reduce the cost of operating at the airport.”

The bookrunner for the transaction was Lehman Brothers with Harvestons Securities, US BancorpPiper Jaffray Inc, Apex Pryor Securities, George K. Baum & Co., Dain Rausher Inc., Estrada Hinojosa & Co. Inc, Goldman, Sachs & Co.and Siebert Brandford Shank & Co. the other members of the underwriting syndicate.

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