The city is putting about $699 million in AMT bonds on the market.
AMT stands for alternative minimum tax, a separate federal tax system for some investors.
Interest on AMT bonds may be subject to it, while non-AMT bonds avoid that catch.
The city is also selling about $391 million in non-AMT bonds.
Bank of America Corp. and Siebert Williams Shank & Co. are leading the sale, which the city expects to price Tuesday.
The money is going into a roughly $13 billion renovation.
Delta Air Lines, which uses Atlanta as a major hub, is getting more room for its passengers.
Atlanta expects enplaned passengers, a term for people boarding planes, to be 110% higher in 2033 than in 2019.
That growth is why it needs new gates and parking.
Airport bond sales so far in 2026 are roughly $10 billion.
In 2025, airports including Chicago, Dallas and Los Angeles helped push airport-sector bond sales to nearly $24 billion.
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Individual deals of $1 billion or more were part of that total.
Municipal bond sales hit roughly $570 billion during 2025.
That was about 15% higher than the year before.
Much of that activity happened early in the year as issuers rushed to sell before any changes from the One Big Beautiful Bill Act, which President Trump signed last July.
Airports were especially sensitive to that law because of how their bonds are treated. Potential changes to rules for bonds that support private projects, shifts in federal funding, or changes to the tax exemption that munis usually get could hit airport issuers hard, says Matthew Gastall of Bloomberg Intelligence.
He notes that even with higher fuel costs and economic challenges, the airport sector continues to see very strong infrastructure spending. Atlanta came to market with a similar-sized sale last September, raising about $1 billion for capital improvements and deposits into reserve and construction accounts.
Kroll Bond Rating Agency rates the debt AA+, while S&P Global Ratings and Fitch Ratings rate it AA.
A basis point is a tiny unit used to measure bond yields.
Some AMT bonds due in July 2036 come with a 3.84% yield, which is the return based on the price investors pay.
They also carry a 5% coupon, the regular interest payment.
Even if you never fly through Atlanta, this sale could show up in your portfolio if you own a municipal bond fund or exchange-traded fund. Munis are the part of the bond market that pays for airports, roads and schools, and big deals add fresh supply for funds to buy.
Most muni bond interest is exempt from federal income tax, which is why investors accept lower yields than they would from a taxable bond. The AMT label changes that math for some of these bonds.
The non-AMT part of the deal does not carry that complication.
Atlanta CFO Mohamed Balla says the city will take on $3.7 billion more in debt for the airport capital plan.
He projects the city will make three more bond offerings by 2032.
He also notes that each of the city's previous deals attracted demand exceeding supply by three to five times, meaning investors wanted more bonds than were available.
Bond documents say the Atlanta metro's population has grown faster than the nation every year since 2007, and the region hosts major employers like United Parcel Service and Coca-Cola.
For most people, the visible result is a bigger airport down the line, with more gates, more parking and a lot more Delta Sky Club space.
For investors, the invisible result is a stream of muni market income flowing through funds and ETFs, much of it free from federal income tax, tied to a city that expects its airport to keep getting busier.
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