Siebert Brandford Shank priced theCity of San Antonio's Airport System Revenue Refunding Bonds, Series 2012 and Passenger Facility Charge & Subordinate Lien Airport System Revenue Refunding Bonds, Series 2012, on Tuesday, May 1, 2012. These bond issues represented Siebert Brandford Shank’s third and fourth senior managed airport bond transactions for the City of San Antonio. The City was able to maximize the debt service savings despite a rapidly deteriorating market at the end of the order period.