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Firm Assists Cintra In Deal To Finance Texas SH 130 Extension

March 10, 2008

HOUSTON (March 10, 2008) — Bracewell & Giuliani LLP served as project and finance counsel to Spanish transportation company Cintra Concesiones de Infraestructuras de Transporte, S.A. in its consortium with Zachry, helping bring to financial close a $1.36 billion funding package for construction and operation of the final two segments of SH 130 between Austin and Seguin. 

Cintra, whose US operations are headquartered in Texas, is one of the world’s largest private-sector transport infrastructure developers.  The company owns a 65 percent stake in the SH-130 Concession Company LLC, charged with constructing and operating the 40-mile stretch of the toll road that will allow for medium- and long-distance interstate traffic to bypass the highly congested area of central Austin.  The project, estimated to open in 2012, is the first Cintra has closed in Texas.

Bracewell attorneys Thomas Moore III, partner in the Houston office, Nancy Jo Nelson, partner in the Washington office, and Christopher D. Olive, partner in the Dallas office, successfully led the team that assisted Cintra in the transaction and financing side of the project, while Kevin A. Ewing and Jason B. Hutt, partners in the Washington office, advised on environmental aspects.

“This is one of several public-private partnership projects that we’ve worked on with Cintra in what is a relatively new concept for transportation infrastructure in the United States,” said Mr. Moore.  “That background here and abroad makes us one of the handful of firms uniquely qualified to succeed in this complicated area where there is tremendous need for alternative financing sources and solutions to address aging infrastructure issues.”

The investment will be financed through a combination of private equity, bank loans and a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan.