The New Terminal One (NTO) at John F Kennedy (JFK) International Airport in New York has concluded a US$2.55bn green bond issuance, which is said to be the largest-ever municipal bond financing for an airport project.
Series 2024 Special Facilities Revenue Bonds
Proceeds from the 2024 Series bonds will be primarily used to finance and refinance a portion of the costs of constructing the initial phase of the NTO development, a portion that was initially funded with the bank facility that was raised in June 2022.
The Series 2024 Special Facilities Revenue Bonds were initially marketed at US$1.5bn. Due to investor demand indicated during pre-marketing and then demonstrated during the order period, the issuance was upsized to US$2.55bn.
“Our continued success in refinancing through this landmark bond issuance demonstrates the confidence of the capital markets in The NTO and our progress in delivering a new gateway for New York and…
