Life Sciences Law Update
Hogan Lovells advises Assured Guaranty on US$600 million bond insurance for JFK Airport redevelopment
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| 29
July
2025
Washington, D.C., Houston, 29 July, 2025 – Global law firm Hogan Lovells has advised Assured Guaranty Inc. (AG) in connection with its insurance of US$600 million in Special Facilities Revenue Bonds issued by the New York Transportation Development Corporation on behalf of JFK New Terminal One (JFK NTO), a consortium comprising Ferrovial Airports, JLC Infrastructure, Ullico Inc., and Carlyle.
This marks the third transaction that AG has insured for JFK NTO, bringing its total insured amount to US$2.2 billion out of the US$5.9 billion in bonds issued to date by JFK NTO. The previous transactions closed in December 2023 and June 2024.
The insured bonds priced on July 16, 2025, as part of a US$1.367 billion Series 2025 issuance.
The Hogan Lovells team advising AG was led by partners David Locascio (Infrastructure, Energy, Resources and Projects, Houston) and Alexiz Sáinz (Infrastructure, Energy, Resources and Projects, Washington, D.C.).
More details on the transaction can be found here.
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