Dallas/Fort Worth International Airport (DFW) has saved $36 million by refinancing the bonds for the airport's rental car centre.
The $111 million deal will free up more than $30 million dollars over the life of the bonds for DFW to spend on other projects.
The average taxable interest rate for the newly issued bonds is 3.76%, and they will be paid off in 2021, three years earlier than the 2024 maturity date of the previous bonds.
Chris Poinsatte, chief financial officer at DFW, said: "We managed to achieve the largest savings, percentage-wise, that we've ever done.
"This deal not only saves us money over the long term, it also frees up about $30 million in cash from the Facilities Improvement Corporation to be used on other airport projects."
Morgan Keegan and Morgan Stanley were the co-senior underwriters for the refinancing deal.
Buddy Kempf, managing director of Morgan Keegan, added: "It was very clear that the DFW Airport name helped achieve the very low interest rates.
"There was a lot of interest in this refunding. We were four times oversubscribed."
