Assured Guaranty announced it has insured $920 million of senior Special Facilities Revenue Bonds for the JFK Airport Terminal 6 Redevelopment Project. These bonds were issued on November 5, 2024, as part of an upsized $1.95 billion offering. This significant transaction highlights Assured Guaranty's continued role in major infrastructure financing.
The insured bonds included $820 million of Series 2024A (Green Bonds) and approximately $100 million of Series 2024B fixed rate convertible capital appreciation bonds. Both series carry a maturity date in 2054. The proceeds from these bonds are designated to refinance a portion of JFK Millennium Partners’ short-term 2022A bonds and bank loans.
Lorne Potash, Managing Director, Infrastructure Finance, Americas, commented on the company's integral part in executing this large bond issue. He emphasized Assured Guaranty's leadership in providing cost-effective financing for complex public-private partnership projects. This project represents a generational asset for the nation's infrastructure.
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