SOURCE: The Bond Buyer

The Bond Buyer

December 02, 2009 14:56 ET

Washington, DC Airports Authority Wins The Bond Buyer's 2009 Deal of the Year Award; ARRA Act Captures Special Innovation Honor

NEW YORK, NY--(Marketwire - December 2, 2009) - A $963 million financing to extend the Washington Metro subway system to Dulles International Airport won "Deal of the Year" honors from the editors of The Bond Buyer, SourceMedia's daily newspaper covering the $2.7 trillion municipal finance industry. The transaction beat out 10 other regional finalists culled from the more than 8,000 municipal bond transactions priced during the year.

"This deal deserved recognition for its creativity in deciding to capture the revenue generated by an existing toll highway and use it to pay for an expansion of transit at a time when funding for such projects is harder and harder to identify," said Amy B. Resnick, editor in chief of The Bond Buyer, who presented the award.

The newspaper's editors also presented a special award to the federal government for the market-changing innovations -- including Build America Bonds and Qualified School Construction Bonds -- contained in the American Recovery and Reinvestment Act. Aaron Klein, deputy assistant Treasury secretary for economic policy, accepted the award.

The award was announced at a ceremony in downtown Manhattan that also raised $5,000 for the Smile Train, the world's largest charity providing cleft lip and cleft palate surgery to children in need around the world.

About The Bond Buyer and SourceMedia:

The Bond Buyer is SourceMedia's 117-year-old daily newspaper of municipal finance, and is distributed in print and online to an audience of more than 15,000 municipal bond professionals nationwide. The Bond Buyer Conferences reach more than 1,500 attendees each year and are the market's premier venues for education and professional development.

SourceMedia, an Investcorp company, is the pre-eminent provider of timely and essential news, analysis, research, and insights for members of the financial services community, and the related fields of professional services and technology. SourceMedia offers its clients and subscribers professional publications, industry-standard data applications and in-depth seminars and conferences.

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