LA Airport Joins Flood of ESG Muni Sales with Green Borrowing

The city agency overseeing Los Angeles International Airport is the latest municipal body to market their bond sales specifically to environmental, social and governance investors.

California’s largest airport plans to borrow about $300 million of municipal bonds on Tuesday, with roughly $252 million of the debt labeled as “green bonds” that are certified by Kestrel, an ESG verification firm. The proceeds will be used to refinance debt sold in 2013 to fund energy-efficient and water-saving capital projects at LAX terminals.

The deal comes during the slowest start to a year for municipal-bond sales since 2018 amid tumult in the banking ...