Finance
Trust Agreements and Custodial Depositary Agreement
Massport issues revenue bonds according to the terms of its Trust Agreements, which specify, among other things, which revenues are pledged to repay the debt issued thereunder. Massport has senior lien debt under two separate Trust Agreements: (i) the 1978 Trust Agreement and (ii) the Customer Facility Charges (CFC) Trust Agreement.
Massport also issues subordinate debt from time to time under a supplemental agreement to the 1978 Trust Agreement.
Passenger Facility Charge (PFC) revenue is deposited into the PFC Depositary Agreement with The Bank of New York Mellon as custodian.