1. Home
  2. Insights
  3. News & insights
  4. The New Terminal One at JFK completes $2.55 billion bond issuance
Company News
2 July 2024

The New Terminal One at JFK completes $2.55 billion bond issuance

The New Terminal One (NTO) and New York John F. Kennedy International (JFK) has concluded a successful $2.55 billion Series 2024 bond issuance...

By Steer

The New Terminal One (NTO) and New York John F. Kennedy International (JFK) has concluded a successful $2.55 billion Series 2024 bond issuance, which were upsized by over $1 billion due to investor demand. The terminal Operator also received credit ratings Baa3 (Stable), BBB- (Stable), and BBB- (Stable) from Moody's, Fitch, and KBRA, respectively. 

NTO is part of the Port Authority of New York an New Jersey’s $19 billion transformation of JFK into a global gateway to the United States and the New York Metropolitan Area.

Steer is proud to have been supporting the development of New Terminal One as the lead traffic and business advisor since 2017. 

For more details on the progress and milestones of the New Terminal One project, including its recognition as North America Airport Deal of the Year and the continued support from Steer, read our previous update: "Finance Approved for John F. Kennedy International Airport's (JFK) New Terminal One (NTO)." This article covers the project's initial financial close, job creation, and ongoing developments as we work towards the planned 2026 opening.

Off
Aerial view of The New Terminal One, redefining JFK's skyline.
Aerial view of The New Terminal One, redefining JFK's skyline.
Newly revamped departure concessions area at The New Terminal One.
Newly revamped departure concessions area at The New Terminal One.
Welcoming meet and greet area at the new concessions.
Welcoming meet and greet area at the new concessions.
Modern concessions area bustling with travelers at The New Terminal One, JFK.
Modern concessions area bustling with travelers at The New Terminal One, JFK.
Ian Sample Steer Director
Steer Director, Ian Sample (pictured) and Adrian Leung, were invited to attend and speak alongside the client leadership team at the Project Investor presentation and site visit

Subscribe to our newsletter, The Edit

Subscribe

We are Steer

Yes, you are in the right place. After 40 years, we have changed our name from Steer Davies Gleave to mark our growing international footprint and our expanding portfolio into markets beyond transportation.

Explore our new website to learn more about Steer: who we are, how we work and what our future holds.

Related insights

  • 23 Dec 2024
    Company news

    Happy Holidays from Steer

    By Steer

    As the holiday season approaches, we wish all our clients and industry colleagues a joyful and restful time with loved ones.

    Read more

  • 31 Oct 2024
    Company news

    Autumn budget 2024: Steer’s key takeaways across transport, energy, housing and more

    By Steer

    The Autumn budget has been keenly awaited in the UK and was historic for many reasons, but after much anticipation did it deliver?

    Read more

  • 14 Aug 2024
    Company news

    Steer advises on key strategic transaction in the Italian aviation sector

    Marco Concari
    Marco Concari
    Director & Head of Italy

    Steer has played an integral role as the Technical and Commercial Advisor in the sale of a 49% stake in 2i Aeroporti.

    Read more

  • 19 Jul 2024
    Company news

    Steer’s work experience week builds future skills

    By Steer

    We recently invited 21 work experience students to join us across our UK offices, helping them gain valuable skills.

    Read more

  • 04 Jul 2024
    Company news

    Election Reflections: What now for the UK?

    By Steer

    A close read of the Labour manifesto by Steer's consultants offers value-added insights into what to expect from the new Government.

    Read more

  • 12 Jun 2024
    Company news

    Airports, Industry Leaders Release Comprehensive Guide for Managing Capital Improvement Programs

    By Steer

    Explore our new guide for effective Capital Improvement Program management for airport finance professionals.

    Read more

  • 11 Mar 2024
    Company news

    Spring Budget 2024: How will Steer’s key sectors be affected by the latest UK budget?

    By Steer

    The numbers on inflation, growth and national insurance dominated the headlines, but what might you have missed?

    Read more

  • 07 Mar 2024
    Company news

    Steer appoints Stephen Wainwright as new UK Managing Director

    By Steer

    Steer appoints Stephen Wainwright as Managing Director of its UK transportation and economic development business.

    Read more

  • 23 Feb 2024
    Company news

    Inside the North America Graduate Program

    By Steer

    What is it like to join Steer as a graduate?

    Read more

  • 28 Jun 2023
    Company news

    Steer, sharing our vision for the future of transport with the world

    By Steer

    Our Steer colleagues have spoken on panels from Colombia to the UK, with their perspectives firmly focused on the future of transport.

    Read more

  • 20 Jan 2020
    Company news

    European Commission publishes Steer report on the protection of air passenger rights

    Stefan Kouris
    Associate

    Steer completed a fact-finding study that sheds light on the main developments in air passenger rights since the Commission tabled its

    Read more

  • 06 Feb 2018
    Company news

    Steer Davies Gleave ensures a top position at the infrastructure deals league

    By Steer

    In January 2018, Inframation Deals released its project finance and league tables trend report for 2017 that captures over USD 437bn in

    Read more

Complex challenges.
Powerful solutions.