ATLANTA (August 9, 2005) – Sutherland Asbill & Brennan LLP has announced that it is serving as the bond counsel for a $550 million tax-exempt commercial paper financing that will accelerate construction of major improvements to Hartsfield-Jackson Atlanta International Airport.
Sutherland is acting as primary bond counsel for the City of Atlanta in the commercial paper program. The first commercial paper was issued under the program on August 2, 2005. The commercial paper will provide construction-period financing for several Hartsfield-Jackson projects. The initial funds will be used to finance an extension of the automated people mover system to the new consolidated rental car center.
"This financing program is further indication of the city's commitment to keep pace with the demands of the airport's tremendous traffic, and we're pleased to play a role in the progress," said Matthew W. Nichols, a partner in the firm's Corporate Group. "Sutherland has been involved in several of the improvement programs at Hartsfield-Jackson in recent years, so we have developed a solid relationship with the City of Atlanta and the many financial institutions we work with on these vital projects."
This is the third financing Sutherland has handled in the past two years for Hartsfield-Jackson. Among the other major improvements planned for the airport is the new Maynard Holbrook Jackson, Jr. International Terminal. The funding for that project is coming primarily from a $765 million financing that closed in November 2004, for which Sutherland also served as bond counsel.
Sutherland Asbill & Brennan LLP is a national law firm known for solving challenging business problems and resolving unique legal issues for many of the nation's largest companies. Founded in 1924, the firm has grown to more than 425 lawyers with offices in Atlanta, Austin, Houston, New York, Tallahassee and Washington. For further information about the firm, please visit sutherland.com.