Texas SH 288 Toll Lanes PPP Project Reaches Financial Close

TaylorDeJongh acted as financial advisor to TIFIA on a USD 357 million loan to the Blueridge Transportation Group, LLC (“BTG”), a special purpose vehicle set up by ACS Infrastructure Development Inc., Shikun & Binui Concessions USA, Inc., Infrared Capital Partners, Northleaf Capital Partners, Clal Insurance Group, and Star America Fund GP, for the SH 288 Toll Lanes PPP Project. The TIFIA loan reached financial close on April 28, 2016. This proposed toll lanes roadway, a USD 1,036.5 million project, will include four managed (tolled) lanes, 10.3 miles in length, within the existing median of SH 288, from US 59 to the Harris County line and a two‐lane two‐way connector up to 1.3 miles in length from SH 288 to Holcombe Boulevard. The project is a collaborative effort between BTG and the Texas Department of Transportation (“TxDOT”).

BTG will be responsible for the construction, financing, operations, and maintenance of the Project roadways. The tolled lanes will be constructed by Almeda-Genoa Contractors, a fully integrated construction joint venture between Dragados USA, Pulice Construction, and Shikun & Binui America. TaylorDeJongh supported TIFIA during the financing process through to financial close, including negotiations with the BTG, the borrower.

TaylorDeJongh CEO, Mr. Fadi Hallak, said: “TaylorDeJongh was very pleased to act as Financial Advisor to TIFIA on this transaction. By utilizing a Public-Private Partnership agreement to deliver a much needed project in a heavily congested area, TxDOT and BTG have developed a project that will benefit the state and the residents of the metro region of Houston. The growing use of PPPs in delivering improvements to the nation’s infrastructure is something TDJ is very proud to be a part of.”