JFK NTO LLC NOTICE OF POTENTIAL BOND ISSUANCE

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Oct 31, 2023, 13:51 ET

NEW YORK, Oct. 31, 2023 /PRNewswire/ -- JFK NTO LLC ("NTO") is considering issuing one or more series of tax-exempt Special Facilities Revenue Bonds (John F. Kennedy International Airport New Terminal One Project), through the New York Transportation Development Corporation (the "Corporation"), acting as conduit issuer. Subject to market conditions and approvals of NTO, the Corporation and the Port Authority of New York and New Jersey, this potential transaction may price as early as November 2023 through a group of underwriters led by Citigroup Global Markets Inc. as representative of the underwriters.

The Corporation is expected to lend the proceeds of the bonds to NTO. NTO has agreed to undertake a project that involves the development, construction, financing, operation and maintenance of the New Terminal One passenger terminal facility at John F. Kennedy International Airport in Queens, New York.

The bonds are expected to be payable primarily from project revenues of NTO, including payments made by airlines, providers of concession goods and services, and other commercial users of the New Terminal One. The bonds are expected to be secured on parity with certain bank loans incurred by NTO and certain other parity borrowings and other obligations of NTO outstanding from time to time.

The size, timing and structure of the potential transaction are subject to market conditions, various approvals and the final decision of NTO in its absolute discretion. NTO reserves the right to change the size, timing and structure of the issuance of the bonds (subject to any required approvals by or conditions of the Corporation), or not to issue any bonds, if doing so would serve the interests of NTO.

If NTO proceeds with this potential transaction, interested investors should obtain and review a copy of the relevant disclosure statement relating to the offering of the bonds when it becomes available, and any such potential transaction should be made solely by reference to such offering document.

The publication of this notice does not constitute or imply any representation of any kind or any undertaking or promise to consummate any potential transaction in 2023 or later.

This notice does not constitute an offer to sell or the solicitation of an offer to buy any bonds nor will there be any sale of any bonds by any person in any jurisdiction in which it is unlawful for such person to make an offer, solicitation, or sale. Any such offer or solicitation will only be made pursuant to an official statement that prospective investors should review in its entirety before making any investment decision, if and to the extent any such potential transaction is to be pursued.

SOURCE The New Terminal One