JFK Airport: Intesa Sanpaolo Co-Lead Arranger for up to $6.63 bn debt financing

The image accompanying the News on financing for the new Terminal One of JFK International Airport in New York City portrays an aerial view of the Manhattan skyline

Intesa Sanpaolo arranged and underwrote an up to $6.63 bn senior debt financing package, along with a group of six Co-ordinating Lead Arrangers, to develop and implement Phase A of the New Terminal One at New York’s John F. Kennedy International Airport (“JFK”): the project is considered the single largest airport infrastructure investment in the US.

The New Terminal One will be the largest terminal at JFK (at 2.4 million square feet) and will support an expected 10+ million passenger enplanements by 2030.

The project is estimated to have a total cost of about $9.5 bn to be implemented in three phases: Phase A will add 14 wide body gates, with 9 additional gates expected to be added in subsequent phases.

The project is supported by a development consortium consisting of Ferrovial, Carlyle, JLC, and Ullico.