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Infrata to advise on second major US P3 Financial Close in as many months

Posted 01/12/2017 by Valery Olefir

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As the first calendar year of the new presidency draws to a close, Infrata is heavily involved with the public offering of the Denver Great Hall Airport PPP as lenders’ technical and traffic & commercial advisor.

A four-month delay to the July closure of the USD 2.1 Transform 66 highway in West Virginia characterised another project on which financier’s additional scrutiny sought comfort from the rigour of Infrata’s due diligence in order to provide assurance for the bond market. 

This year has also seen the stake sale of Northwest Parkway in Colorado, a 100-year tolled concession operating a completely cashless tolling system, new to most financial sponsors. Other work in Colorado has involved the provision of Lenders Technical Advisory (LTA) services to a bidding consortium on the heavily trafficked I-70 East. 

As the new year poses opportunity for a surge in P3 legislation and bipartisan support touted 12 months ago, Infrata continues to deliver LTA services on projects such as Segment 3C of the North Tarrant Expressway. The project encompasses an 8 mile extension of the existing scope of the $1.35bn DBFOM. The project acts as indication that as well as Funders, some transportation Authority’s have become accustomed to the successful role that international advisors and developers have played in delivering under the P3 model. 

Despite the processes of entities like the Department for Transportation and the Build America Bureau concealing the certainty of new projects and legislation repeals, Infrata’s role as an advisor of Technical and Traffic due diligence remains an important one in the US infrastructure market of today.