JFK Airport’s New Terminal One: “We Have Liftoff" Artwork

Law, Policy & Markets

Law, Policy & Markets: Milbank Conversations explores key business and legal trends in today's evolving global economy. With candor and a sophisticated understanding of the issues, host Allan Marks and other Milbank partners and guests delve into diverse topics, such as ESG and sustainability, cybersecurity, airlines and aviation, biopharma, global capital markets, climate change and the energy transition, cross-border workouts, private equity, cutting-edge litigation, enforcement policies in securities and antitrust, and values-based innovation in the legal profession. Discover what’s happening, what it means, and what’s next. More details at Milbank.com. Follow us on social media and podcast platforms, including Apple, Spotify, Google and Audible.

All Episodes

Law, Policy & Markets

JFK Airport’s New Terminal One: “We Have Liftoff"

October 24, 2022 • Milbank • Season 3

Send us a text

The $9.5 billion New Terminal One at New York's John F. Kennedy Airport -- developed, financed and built by a private consortium – will be the largest terminal at the airport when completed, with state-of-the-art technology, sustainability and capacity upgrades. Construction financing for the new terminal closed this summer, followed by the official groundbreaking in September 2022. The members of the public-private partnership overcame myriad challenges – the global pandemic, volatile air traffic forecasts, supply chain challenges, and rising interest rates – to close the largest single-asset P3 project financing so far in the US.

In this episode, JFK Airport’s New Terminal One: “We Have Lift Off,” host Allan Marks (who led Milbank’s team representing the banks that are providing over $6.6 billion in construction loans) goes behind the scenes of the project financing with two of its architects: Pete Taylor, a partner at Carlyle, which led the sponsor group developing the new terminal, and Dan Seltzer, a Managing Director at MUFG Bank, Ltd., who acted as the Financial Advisor to the developers.

About the Speakers:

Peter Taylor is Partner and Co-Head of the Carlyle Global Infrastructure Opportunity Fund (CGI). He is based in Washington, DC.

Dan Seltzer is Managing Director for Project Finance in the Global Corporate & Investment Banking group at MUFG in New York.

Podcast host Allan Marks is one of the world's leading project finance lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at the Law School and previously at the Haas School of Business.

For more information and insights, follow us on social media and podcast platforms, including Apple, Spotify, Amazon Music, iHeart, Google and Audible.

Disclaimer

People on this episode

Allan T. Marks

Host