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Vantage Airport Group Ltd. closes Amendment No. 1 to Credit Agreement

Date Closed

December 18, 2023

Lead Office


On December 18, 2023, Vantage Airport Group Ltd. entered into an Amendment No. 1 to a Credit Agreement (the "Amendment") dated December 18, 2023 between, among others, Vantage Airport Group Ltd., as Canadian borrower, Vantage Airport Group (US) Ltd., as US borrower, and a syndicate of lenders led by MGG Investment Group LP, as Administrative Agent and Collateral Agent (collectively, the "Lenders"). The Amendment amends the Credit Agreement (the "Original Credit Agreement") dated October 18, 2022 among the same parties. Pursuant to the Amendment, the Lenders upsized the Delayed Draw Term Commitment established under the Original Credit Agreement. The proceeds of this transaction are intended to be used towards acquiring additional ownership interest in LaGuardia Gateway Partners ("LGP") from Skanska, which is divesting its 32% ownership of LGP. LGP is the private consortium, comprised of Vantage Airport Group, Skanska, Meridiam and JLC Infrastructure, that was selected by the Port Authority of New York and New Jersey to finance, develop, and manage the new LaGuardia Terminal B, a 35-gate terminal which was completed in July 2022 and in 2023 was named World’s Best New Airport Terminal by Skytrax’ global ranking organization and became the first airport terminal in North America to earn Skytrax’ prestigious 5 Star ranking.

Vantage Airport Group, headquartered in Vancouver, British Columbia, develops and manages airports and transportation infrastructure around the world.

McCarthy Tétrault advised Vantage Airport Group with a team led by Jody Aldcorn and included Genevieve Loxley and Josh Friedman (Financial Services) and Fayyaz Karmali (MT>Align).