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Two construction projects will impact traffic to and from Denver International Airport (DEN) this week.

Inbound Peña Blvd. lanes (heading to DEN) between Tower Rd. & the RTD bridge will be restored to their pre-existing, permanent alignment. A right inbound lane closure will be in effect from approximately 8 p.m. on May 28 to 4 a.m. on May 29. Additionally, crews will replace a damaged overhead electronic message board sign on May 28 and 29 on outbound Peña Blvd. (leaving DEN). Work is expected to start around 10 p.m. on May 28 and finish around 4 a.m. on May 29, and again around 10 p.m. on May 29 to 4 a.m. on May 30. At approximately 1 a.m., between Tower Road and E 56th Avenue, a slow rolling closure of Peña Boulevard traffic will be implemented for less than 10 minutes. Speeds will be significantly reduced. Crews will be transporting and setting bridge girders on E-470 over outbound Peña Blvd. (leaving DEN) between 11 p.m. on May 30 until 6 a.m. on May 31. Between Jackson Gap Street and E-470, approximately once every hour, slow, rolling closures of Peña will be implemented for approximately seven minutes. Speeds will be significantly reduced during this time.

News and Press

Denver International Airport Closes on Favorable Sale of Airport Bonds


DENVER, CO — July 31, 2013 — Denver International Airport (DIA) has recently closed on the sale of $720 million Airport System Subordinate Revenue Bonds at an all-in interest rate of 4.94 percent. The bond sale provides $608 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 crosssection 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. “In addition, our financial strength has benefitted from the strong passenger growth we have seen over the past four years, which has helped us to outperform the objectives established in our 10-year financial plan.”

The City was able to preserve future financial flexibility by issuing $720 million of bonds at a subordinate level, while taking advantage of the low interest rate environment. All revenue bonds of the airport, including those issued as subordinate obligations, are paid for by revenues generated at DIA and will not have any impact on the City’s General Fund.

“The City of Denver is pleased with the results of the sale considering the challenges of the municipal bond market,” said Chief Financial Officer Cary Kennedy. “The municipal bond market has recently experienced an increase in yields on the news of improved economic conditions and potential slow-down of economic easing. This caused some municipal issuers to withdraw or downsize transactions the week prior to the DIA transaction entering the market.”

In February 2011, Denver International Airport unveiled a 10-year financial strategy designed to position the airport for fiscal stability and growth. The plan focuses on optimizing existing resources and effectively funding improvements such as facility upgrades, roadway projects, baggage system enhancements, and the South Terminal Redevelopment Program. Additional goals of the 10-year financial strategy are maintaining competitive operating costs for DIA’s airline partners and more informed decision-making. The plan’s design allows the airport to adapt to changing markets and economic climates. It establishes targets against which DIA can manage and measure performance.

“Denver International Airport decided to move forward with the full transaction size because prevailing rates are at levels that allow the airport to achieve its financial targets outlined in our 10-year financial plan,” Chief Financial Officer for Denver International Airport Patrick Heck said, “The strong acceptance of DIA bonds issued under the new lien demonstrates the market’s view of Denver International Airport as a financially strong airport.”

Prior to the issuance of the Series 2013A-B Bonds, DIA had no outstanding bonds at the subordinate lien level. The 2013A-B Bonds were issued as subordinate lien obligations to preserve the metrics of the senior lien bonds while taking advantage of the relatively low interest rate environment. The DIA subordinate bonds are rated A2, A and A by the three major credit rating services Moody’s, Standard & Poor’s and Fitch, one notch below the senior lien bonds of the Airport.

Denver International Airport is one of the busiest airports in the world. DEN is the primary economic engine for the state of Colorado, generating more than $36 billion for the region annually. For more information visit, check us out on YouTube and Instagram, like us on Facebook and follow us on Twitter. Sign up for DEN’s monthly newsletter Nonstop News.


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Denver International Airport is one of the busiest airports in the world. DEN is the primary economic engine for the state of Colorado, generating more than $36 billion for the region annually. Follow us on socials!