The San Diego County Regional Airport Authority announced Thursday it has completed bond financing totaling $1.062 billion at 5.18% interest to support construction of the new Terminal 1.
The bond sale will provide funding for terminal and roadway construction, as well as airside projects as part of the New T1 program.
“The bond sale will help us realize our collective purpose to create an exceptional airport experience for the community and the world,” said Kimberly Becker, Airport Authority president and CEO. “This will also help San Diego International Airport to continue to serve as an economic driver for the region in terms of jobs and tourism.”
Despite a volatile bond market and increasing interest rates, investors placed more than $3 billion of orders for the Airport Authority bonds.
The $3.4 billion terminal is set to open in late summer 2025.