Chicago Seeks $476 Million From Muni Market for O’Hare Airport Revamp

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The FAA air traffic control tower at O'Hare International Airport in Chicago.Chicago O’Hare International Airport is looking to borrow about $476 million from the municipal bond market as it undergoes a multi-billion dollar overhaul.The city plans to borrow on behalf of O’Hare to support terminal redevelopment and capacity enhancements at the airport as new routes and flights are added to one of the busiest US airports, according to preliminary bond documents. The bonds, which are expected to price on Wednesday, will support O’Hare’s roughly $12 billion capital plan, which has gone over the original $8.6 billion budget first laid out in 2018.