Series 2009 Senior Revenue Bonds
Strategically located halfway between the Los Angeles County and Orange County business centers, Long Beach Airport (LGB) is a small-hub facility with 1.4 million enplaned passengers annually. LGB provides scheduled passenger service from five carriers as well as cargo service by Federal Express and United Parcel Service. As part of a $150 million 10-year Terminal Area Improvements Project, LGB is building a solar-powered, five-level, 3,200-space parking structure adjacent to the Terminal Building. Working as part of the financial consulting team on the bond offering for this project, PES prepared a report examining the underlying economic base of LGB’s air trade area with specific focus on passenger and cargo demand generators. PES’s work was incorporated into the bond offering’s official statement, investor outreach materials, and rating agency presentations for Fitch Ratings and Moody’s Investors Service Inc.