Assured Guaranty Insures $600 Million in Third Transaction for JFK International Airport's New Terminal One Project

Insured Bonds Form Part of a $1.4 Billion Issue

Assured Guaranty Inc. (AG)* has insured $600 million of Special Facilities Revenue Bonds issued by the New York Transportation Development Corporation on behalf of JFK New Terminal One (JFK NTO), a consortium comprising of Ferrovial Airports, JLC Infrastructure, Ullico Inc. and Carlyle. This is the third transaction AG has insured for JFK NTO, for a total of $2.2 billion out of the $5.9 billion of bonds issued to date by JFK NTO. The other two successful transactions closed in December 2023 and June 2024.

The insured bonds priced on July 16 as part of a $1.367 billion Series 2025 issuance.

Lorne Potash, Managing Director, Head of Infrastructure Finance, Americas commented, "The strength of our partnership with JFK NTO and its transaction team has been proven once again with strong demand for our support on JFK NTO's third issuance. AG's financial strength allows it to participate and add value in precisely these kinds of transactions."

"This is the third time that AG has insured a transaction for JFK NTO, and we are very pleased that each of our transactions with the issuer has been highly successful," said Sam Nakhleh, Managing Director, Infrastructure Finance, Americas.

AG has insured bonds due in 2038, 2043, 2045, and 2060, and has insured part of each of the term bonds due in 2050, 2055, and 2059.

BofA Securities and Loop Capital Markets served as co-bookrunners and Barclays as co-senior manager. Hogan Lovells acted as legal advisor to AG.

IMPORTANT NOTICE

All of the securities having been sold, this announcement is for information purposes only. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (Securities Act), or with any securities regulatory authority of any state or jurisdiction of the United States, and may not be offered, sold or transferred, directly or indirectly, in the United States absent registration under the Securities Act or an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any state or other jurisdiction of the United States.

*AG is a subsidiary of Assured Guaranty Ltd. (AGL and, together with its subsidiaries, Assured Guaranty). Through its subsidiaries, Assured Guaranty provides credit enhancement products to the U.S. and non-U.S. public finance, infrastructure and structured finance markets. Assured Guaranty also participates in the asset management business through its ownership interest in Sound Point Capital Management, LP and certain of its investment management affiliates. AGL is a publicly traded (NYSE:AGO) Bermuda-based holding company. More information on AGL and its subsidiaries can be found at AssuredGuaranty.com.

Cautionary Statement Regarding Forward-Looking Statements:

Any forward-looking statements made in this press release reflect Assured Guaranty's current views with respect to future events and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. These risks and uncertainties include, but are not limited to, difficulties executing Assured Guaranty's business strategy; the demand for Assured Guaranty's financial guaranties; actions that the rating agencies may take with respect to Assured Guaranty's financial strength ratings; adverse developments in Assured Guaranty's guaranteed portfolio; other risks and uncertainties that have not been identified at this time; management's response to these factors; and other risk factors identified in Assured Guaranty's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which are made as of July 23, 2025. Assured Guaranty undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250723662751/en/

Robert Tucker, 212-339-0861

Senior Managing Director, Investor Relations and Corporate Communications

[email protected]



Media:

Ashweeta Durani, 212-408-6042

Director, Corporate Communications

[email protected]