The San Diego County Regional Airport Authority's $1.94 billion Subordinate Airport Revenue Bonds Series 2021 were awarded the 2022 Bond Buyer Deal of the Year for the Far West Region. The bond proceeds are being used to pay for the replacement of Terminal 1, roadway and parking improvements, a new administration building, and to advance refund outstanding bonds for debt service savings. The Authority was able to upsize its deal at pricing by $600 million, enabling it to fund additional projects in out years.

The Bond Buyer's editorial board considered a range of factors when judging entries, including creativity, the ability to pull a complex transaction together under challenging conditions, the ability to serve as a model for other financings, and the public purpose for which a deal's proceeds were used.

"This year's lineup is reflective of the full range of communities and public purposes this market comprises," said Mike Scarchilli, Editor in Chief of The Bond Buyer. "The deals recognized here embody the creativity and resourcefulness of this industry, brought to bear on projects that advance the infrastructure and quality of life in the nation's municipalities.

Kutak Rock, led by Michael Thomas, served as bond and disclosure counsel to the Authority in connection with the bond offering.  Michael Reppe and Elizabeth Partlow were also part of the Kutak team that assisted the Authority in the successful closing of the transaction.