JFK Millennium Partners, the group-led company selected by the Port Authority of New York and New jersey to build and operate the new JFK Terminal 6, announced last week it had successfully completed a planned issuance of nearly $2 billion in bonds.

Officials said the transaction was one of the top three largest municipal bond financing projects at a U.S airport since 2021. The bond consist of $1.85 billion in Series 2-24A alternative minimum tax (ATM) green bonds, along with an additional $100 million in Series 2024B convertible capital appreciation bonds. The convertible capital appreciation bonds are the first of their kind issued for any U.S. airport, officials said. The bonds will be used to refinance a portion of the first phase of construction at the terminal.