Bond attorney and longtime market participant Linda Grant Williams has secured a patent on an alternative credit structure that is designed to lower interest rates on special facility bonds for ­airports.

In essence, the structure that Williams has patented would allow tax-exempt bonds sold for airport terminals to be rated on their underlying value — passenger demand — instead of on the value of the airlines that serve the terminals.

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.