Houston, New York – Global law firm Hogan Lovells advised on a bond issuance to refinance a portion of the costs relating to the New Terminal One Project of John F. Kennedy International Airport (JFK) in New York City.
Assured Guaranty Municipal Corp. insured US$800 million of senior Special Facilities Revenue Bonds, Series 2023, issued by the New York Transportation Development Corporation. The bonds insured by AGM are part of a US$2 billion issue of fixed-rate bonds that has been designated as Green Bonds.
A consortium comprised of Ferrovial Airports, JLC Infrastructure, Ullico Infrastructure Fund and Carlyle Group, will develop, design, construct, finance, operate and maintain the new international passenger terminal facility to replace the existing Terminal One at JFK. Citigroup served as book-running senior manager on the transaction.
The Houston-based Hogan Lovells team was led by partner Dave Locascio and associate Mariana Avendano.
