KB Kookmin, Joint Lead Arranger for New York JFK Airport Redevelopment PF

[Asia Economy Reporter Buaeri] KB Kookmin Bank announced on the 29th that it has successfully co-arranged the $300 million (approximately 388.4 billion KRW) New York John F. Kennedy International Airport redevelopment project, the 'JFK New Terminal One Project Financing (PF)'.

JFK International Airport is one of the largest airports in the United States. Recently, discussions on redevelopment have continued due to aging airport facilities and a shortage of terminals.

KB Kookmin Bank participated as a co-arranger alongside global arrangers such as MUFG, SMBC, and ING Bank. In raising a total syndicated amount of approximately $6.6 billion (about 8.5444 trillion KRW), KB Kookmin Bank submitted an investment commitment letter for $300 million.

This joint project arrangement is the result of a strategic investment agreement signed between KB Kookmin Bank and The Carlyle Group in 2021. The Carlyle consortium was selected in 2018 by the New York and New Jersey Port Authority, the competent authority, as the project operator for the integrated expansion development of Terminals 1 and 2 at JFK International Airport.

Woo Sang-hyun, Head of KB Kookmin Bank CIB Customer Group, said, "Through the strategic partnership with Carlyle, we expect to contribute to the growth of KB's global division as well as create various business opportunities, including discovering new investment opportunities overseas."