Press Releases

Texas SH 288 Toll Lanes PPP Project Reaches Financial Close

Taylor-DeJongh 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. Taylor-DeJongh supported TIFIA during the financing process through to financial close, including negotiations with the BTG, the borrower.

Taylor-DeJongh CEO, Mr. Fadi Hallak, said: “Taylor-DeJongh 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.”

TDJ Welcomes Ex-Im Reauthorization

The U.S. Export-Import Bank (EXIM) was re-authorized on December 3, 2015 by both the U.S. House of Representatives and the U.S. Senate. EXIM is the export credit agency of the United States, tasked with the mission of supporting American jobs, equipping American businesses with the capital and tools necessary to compete globally.

EXIM is now accepting and processing applications for financings up to US $10 million.

THE FINAL STEP

In order to approve financings that exceed US $10 million, EXIM’s Board of Directors must be approved by the U.S. Congress, which is the final procedural step. Once in place, the Board can resume its critical function of issuing approvals for large value financings. Taylor-DeJongh fully expects a relatively quick approval process of the Board of Directors by the U.S. Congress.

Despite the tumultuous Presidential primary season, EXIM’s re-authorization by a bipartisan majority clearly signals the U.S. Government’s belief that EXIM is an important tool for increasing American exports and fortifying their competitive positions around the world. In fiscal year 2015, EXIM approved over US $12 billion worth of financings, supporting an estimated US $18 billion in U.S. exports, and 100,000 American jobs.

TAYLOR-DEJONGH AND EXIM
Taylor-DeJongh has been one of the most active players in export credit agency (ECA) financings, including with EXIM since the creation of its Structured and Project Finance department in 1993.

· Advised on 20 major infrastructure and energy transactions to closing.
· Assisted clients in successfully negotiating ECA financings in excess of US $25 billion.
· Advised on EXIM financings for over 20 years.
· Advised on successful financings involving ECAs and government-backed lenders from all major OECD countries.

In The News

Texas SH 288 Toll Lanes PPP Project Reaches Financial Close

Taylor-DeJongh 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. Taylor-DeJongh supported TIFIA during the financing process through to financial close, including negotiations with the BTG, the borrower.

Taylor-DeJongh CEO, Mr. Fadi Hallak, said: “Taylor-DeJongh 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.”

Banda Gas-to-Power Project in Mauritania

October 2014
Taylor-DeJongh is advising the Société de Production d’Electricité à Partir du Gaz (SPEG), the developer of a 310 MW gas-fired power plant in the Islamic Republic of Mauritania, which will monetize the indigenous gas resources from the Banda field off-shore the coast of Mauritania. TDJ is advising on all aspect of the transaction, including the structuring of the credit support package through the use of various World Bank Group Guarantees.

The World Bank Group has produced a video focused on the Banda Gas-to-Power project in Mauritania, discussing how it will bring sustainable energy, growth, jobs, and business to the region.

Articles & Reports

Powering Up

December 2014
An article about the opportunity for gas-to-power projects in Sub-Saharan Africa, by TDJ’s Paolo Curiel and Ismail Tazi, appeared in the December/January issue of Petroleum Economist.

Monetizing Natural Gas Reserves – The GTL Option

September 2014
TDJ’s report on GTL has been published as part of The Oil Council’s Expert’s Insight series. The article discussed the fact that as a result of the significantly higher prices of crude oil as compared to natural gas in the US, the conversion of gas into value-added middle distillates through the Gas-to-Liquids (“GTL”) process may be commercially viable under the right circumstances.

Newsletters

July 2014 News ‘n Views

Read the July 2014 issue

  • Selected Current Transactions: $3.5 Billion Urea/Methanol Facility, Joint Oil Block, Uganda Refinery
  • TDJ’s Awards
  • Sharing Our Expertise
  • What’s Next for P3s in the United States