The Wayne County Airport Authority, which runs the Detroit Metropolitan Airport, said it achieved $51.7 million in net present-value savings in a recent ­refunding.

The authority refunded a total of $838 million of bonds in a series of December transactions that featured interest rate savings, shifting bonds into debt not subject to the alternative minimum tax, and penalty-free swap terminations.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.