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LBJ Managed Lanes Project Wins Project Finance Magazine's Bond Deal of the Year

March 18, 2011

HOUSTON — The I-635/LBJ managed lane project has been named Project Finance magazine's 2010 North American Bond Deal of the Year. Bracewell & Giuliani LLP acted as counsel for LBJ Infrastructure Group LLC, which includes Cintra Infraestructuras, S.A., Meridiam Infrastructure and Dallas Police and Fire Pension System, for the financing.

The I-635/LBJ managed lane project was the largest transportation project of its kind in the U.S. to reach financial close in 2010. 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.

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.

The Project Finance Awards recognize innovation, deal repeatability, best practice, problem solving, risk mitigation, value for money and speed of delivery in the financing of infrastructure projects.

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 M. O'Black, Lisa A. Smith, Michael C. Yates