Chicago Seeks $476 Million From Muni Market for O’Hare Revamp

Chicago O’Hare International Airport is looking to borrow about $476 million from the municipal bond market as it undergoes a multi-billion dollar overhaul.

The city plans to borrow on behalf of O’Hare to support terminal redevelopment and capacity enhancements at the airport as new routes and flights are added to one of the busiest US airports, according to preliminary bond documents. The bonds, which are expected to price on Wednesday, will support O’Hare’s roughly $12 billion capital plan, which has gone over the original $8.6 billion budget first laid out in 2018.

The plan includes redeveloping and adding new ...