Vantage’s JFK Terminal 6 Financing Wins Top Honors at The Bond Buyer Awards, Setting a New Standard for Green Airport Infrastructure

Dec 3, 2025

Vantage Experts:

Steve Thody

Chief Executive Officer

Vantage Group and JFK Millennium Partners (JMP) are proud to announce that the financing for the new JFK Terminal 6 has been recognized with one of the highest honors at The Bond Buyer’s Deal of the Year Awards: Green Financing Deal of the Year.

The awards, presented at a ceremony in New York City on December 2, 2025, celebrate the most remarkable municipal finance transactions of the year — spotlighting the bold thinking, creative structuring, and problem-solving that drive progress in communities across the country. Steve Thody, JMP CEO and Vantage Group executive, accepted the award on behalf of the team.

Green Financing for Sustainable Airport Infrastructure

At $1.95 billion, the Terminal 6 financing ranks among the largest green financings ever for an airport facility. More than just a transaction, it represents what’s possible when sustainability and scale meet in infrastructure finance. The deal was oversubscribed more than five times, attracting $10.8 billion in orders from over 120 investors — a clear signal of market confidence in the vision for Terminal 6 as a world-class, sustainable gateway to New York.

Green financing ensures that funds are dedicated to projects with measurable environmental benefits — such as reducing carbon emissions, improving energy efficiency, and supporting renewable energy. Terminal 6 will feature 4,000+ solar panels, stormwater reuse systems, and 90% construction waste diversion, supporting its pursuit of LEED Gold, Envision, and Sustainable Sites certifications.

This recognition is a testament to what can be achieved when vision, collaboration, and sustainability come together. T6 is not just a new chapter for JFK — it’s a bold step toward a greener future for aviation.

Steve Thody

CEO, JFK Millennium Partners

A Proven Track Record for Successful Collaboration in Airport Development

As Mike Sibilia, CFO of JFK Millennium Partners, told The Bond Buyer: “When you are bringing a $1.95 billion issuance to market, there are a lot of people involved and a lot of expertise that is required.”

That expertise came from an exceptional group of partners:

Issuer: New York Transportation Development Corporation
Bookrunners & Co-Senior Managers: Goldman Sachs, Siebert Williams Shank
Co-Managers: 11 firms, including six minority- and women-owned businesses
Municipal Advisors: Backstrom McCarley & Berry, Frasca and Associates
Bond Counsel: Squire Patton Boggs, Hawkins Delafield & Wood
Insurer: Assured Guaranty
Green Verification: Kestrel

For Vantage Group, this recognition builds on a strong track record of delivering complex, high-profile financings. In 2017, Vantage structured and closed the LaGuardia Terminal B financing, which earned The Bond Buyer’s Northeast Region Deal of the Year — a milestone that set the stage for success at JFK. More recently, JFK Millennium Partners, together with the Port Authority of New York and New Jersey, was honored with The Bond Buyer’s Public-Private Partnerships Deal of the Year in 2023. These achievements underscore Vantage’s expertise in innovative financing solutions for transformative airport projects.

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