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Bracewell & Giuliani Advises Cintra and Meridiam on Financing for I-635/LBJ

June 22, 2010

HOUSTON  Bracewell & Giuliani LLP advised the LBJ Infrastructure Group LLC, which includes Cintra Infraestructuras, S.A., Meridiam Infrastructure and Dallas Police and Fire Pension System, on its financing for the I-635/LBJ managed lane project.

The $2.8 billion financing includes $665 million in private equity investment, $1.4 billion in debt ($615 million in private activity bonds and $850 million Transportation Infrastructure Finance and Innovation Act funds) and $496 million in public funds. This is the largest transportation project of its kind in the U.S. to reach financial close in 2010.

Bracewell has worked with the LBJ Infrastructure Group LLC since the beginning of the project. The commercial close occurred in September 2009 and the financial close on June 22, 2010. Construction is expected to begin in early 2011 and be completed by 2016.

Bracewell attorneys that advised on this matter include:

Partners: Thomas O. Moore, Bradley J. Benoit, Stephen B. Crain, Nancy Jo Nelson

Counsel: Rebecca J. Rentz

Associates: Eamonn K. Bakewell, Mary K. McDaniel O'Black, Lisa A. Smith, Michael C. Yates