INTESA SANPAOLO ACTS AS CO-ORDINATING LEAD ARRANGER AND JOINT BOOKRUNNER TO PROVIDE AN UP TO $6.63 BN DEBT FINANCING FOR NEW TERMINAL ONE AT JOHN F. KENNEDY INTERNATIONAL AIRPORT

• New Terminal One at New York’s JFK International Airport is considered the single largest airport infrastructure investment in the US
• The three-phase project is estimated to have a total cost of about $9.5 billion
• Micillo: “We will continue to support cities like New York as they prioritize infrastructure modernization”

Milan - New York, 22 June 2022 – Intesa Sanpaolo announces that it successfully 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 and aims to build a state-of-the art terminal at JFK that will support an expected 10+ million passenger enplanements by 2030. The project is estimated to have a total cost of about $9.5 billion to be implemented in three phases.

The New Terminal One – expected to be completed by 2026 – will be the largest terminal at JFK (at 2.4 million square feet, about 222,970 square meters) and is being developed at the site of the existing Terminals 1, 2 and 3. Phase A will add 14 wide body gates, with 9 additional gates expected to be added in subsequent phases for a total of 23 gates by 2030.

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

Mauro Micillo, Chief of the IMI Corporate & Investment Banking Division, said: “This transaction is one of Intesa Sanpaolo's most significant achievements in the US market in recent history. We strive to continue supporting cities like New York as governments implement a much-needed modernization of public infrastructure. Our Project Finance practice in the Americas has grown significantly both in terms of size and scope over the past several years and we are excited about the opportunities we see ahead. This financing signals our commitment to increasing investments in the US through our US-based platform, which is one of the key growth drivers for Intesa Sanpaolo in the coming years.”

Media Relations

Intesa Sanpaolo

Corporate & Investment Banking and Governance Areas

stampa@intesasanpaolo.com