McCarter & English has extensive experience with exempt facility financings for airport and port facility projects. Since 1998, the firm has served as Bond Counsel to the New Jersey Economic Development Authority (NJEDA) in connection with hangar and terminal project financing for Continental Airlines, Inc. at Newark Liberty International Airport, which has totaled over $1 billion. In addition, the firm has served as Bond Counsel to the NJEDA in connection with airport financings for Airis Newark, L.L.C. at Newark Liberty International Airport and Dallas Airmotive Inc. at Millville Municipal Airport. The firm has also served as Bond Counsel to the Essex County Improvement Authority with respect to airport financings at Essex County Airport.
The firm recently served as Bond Counsel to NJEDA in connection with the issuance of $125,000,000 Special Facility Revenue Bonds in order to finance a terminal facility for Port Newark Container Terminal LLC, a joint venture of P&O Ports North America Inc., an indirect wholly-owned subsidiary of the Peninsular and Oriental Steam Navigation Company, and Farrell Lines Incorporated, an indirect wholly-owned subsidiary of P&O Nedlloyd B.V.
As Bond Counsel for these transactions, the firm had the responsibility for negotiating the bond documents with The Port Authority of New York and New Jersey and the other operators of the airports and ports where the new project facilities are to be sited.