FILE PHOTO: The Manhattan skyline is seen in the background as an airplane takes off at John F. Kennedy International Airport on the July 4th weekend in Queens, New York City
It is the second time JFK's NTO will issue bonds in less than a year. The consortium first sold $2 billion in bonds in December to refinance about $6.5 billion in bank loans, following a period of municipal bond market volatility and illiquidity. The loans were secured two years ago in a $9 billion private-public transaction and financed by over 40 institutions led by financial sponsors Carlyle, Ferrovial SA, JLC Infrastructure and Ullico to cover the cost of the first phase of the airport terminal overhaul.The companies joined the consortium to build a new international terminal on the sites now occupied by JFK's terminals one, two and three at one of the world's busiest airports.