Financing PABs Anchor LAX People Mover

On June 8, 2018, the City of Los Angeles, acting through the Los Angeles World Airports (LAWA) Board of Airport Commissioners, and LAX Integrated Express Solutions, LLC (LINXS) successfully reached financial close on a $4.9-billion agreement for the Automated People Mover (APM) project at Los Angeles International Airport (LAX).

According to a Nossaman blog written by Andrée Blais and Jayoung Jeon, after reaching commercial close with LAWA on April 11, 2018, LINXS proceeded to secure $103-million in equity contributions and to arrange and close both bond and bank financings for the project, which it completed more than a month ahead of the deadline.

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About Bill Reinhardt

Editor of Public Works Financing newsletter
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