Carlyle Sells a Majority of Its Controlling Interest in an $8 Billion Project Financing Transaction for the Reconstruction of Terminal One at New York’s JFK Airport to Spain’s Ferrovial

On Friday, June 10, 2022, a Carlyle-led consortium closed a project financing transaction raising a total of over $8 billion in debt and equity for the reconstruction of Terminal One at New York’s JFK Airport. Simultaneously with the project financing, Carlyle sold a majority of its controlling interest in the project to Spain’s Ferrovial, which agreed to subscribe for $1billion worth of equity in the project. A Venable team, led by Mark Vecchio, with assistance from Bill Wagner, Lawrence Cooke, Dan Straga, Nick Collevecchio, Chris Davidson, Matthew Carruth, Michael Bloom, Paul Feinstein, Robin Burroughs, Maggie Goff, Rachel Conover, and Elise Lindenmayer, represented Carlyle in the sale of its interest to Ferrovial, which was represented by Gibson Dunn.