IFLR1000

LaGuardia Airport redevelopment $4 billion PPP

1/6/2016
PPP, Project bond issue, Project development
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$ 4 billion

Completed

1/6/2016

Overview:

  • LaGuardia Airport redevelopment $4 billion PPP.
  • The Port Authority of New York and New Jersey has obtained financing for the $4 billion redevelopment of LaGuardia Airport.
  • The redevelopment will consist of privatizing and replacing Terminal B, the main airport terminal. 
  • LaGuardia Gateway Partners is acting as developer.
  • The deal is one of the largest public-private partnership (PPP) transactions in US history.
  • New York Transportation Development has issued $2.4 billion of bonds to finance the redevelopment.
  • The project is expected to be completed by 2022.

Kurt Stumpo - Journalist

Jurisdiction:

United States

Deal types:

PPP
Project bond issue
Project development

Practice areas:

Capital markets : Debt
Project development
PPP/PFI

Governing law:

United States

Industry sector:

Transport

Firms:
Dentons

Party: New York Transportation Development (Issuer)

O'Melveny & Myers

Party: LaGuardia Gateway Partners (Project developer)

Lawyers: Denise Raytis, Eric A S Richards

Orrick Herrington & Sutcliffe

Party: Port Authority of New York and New Jersey (Concessionaire)

Lawyers: Daniel Mathews, Young Lee

Squire Patton Boggs

Party: New York Transportation Development (Issuer)

Lawyer: Alethia Nancoo

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