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| The headquarters of KB Kookmin Bank located on Seoul's financial district Yeouido / Courtesy of KB Financial Group |
KB Kookmin Bank announced Wednesday that it will jointly lead a financing project for constructing the New Terminal One (NTO) at John F. Kennedy International Airport.
The Seoul-based lender said it will be leading the project financing deal along with other global partners, including Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Banking Corporation (SMBC) and ING Bank.
According to the bank, the participating financial companies jointly form a loan syndication of $6.6 billion, through which a group of lenders fund various portions of the loan needed for the rebuilding construction. KB Kookmin Bank submitted a co-financing commitment letter, vowing to support $300 million of the loan.
The bank explained that the co-leading of the project financing is the result of a strategic alliance between KB Financial Group and the Carlyle Group signed in 2020. The Carlyle Group is a key financier covering the costs for the JFK redevelopment plan.
"Through the strategic partnership with the Carlyle Group, KB Kookmin Bank is seeking various business opportunities in overseas investments, which will contribute to the growth of KB's global business," Woo Sang-hyun, Vice President of CIB at KB Kookmin Bank, said.
The New Terminal One renovation of John F. Kennedy International Airport is slated to begin this summer, with its first new gates scheduled to open in 2026 before the full project is completed by 2030. The New Terminal One will be the largest international terminal at JFK.
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