IFLR1000

Pennsylvania rapid bridge replacement P3

19/10/2015
PPP, Project development, Project finance
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$ 900 million

Announced

19/10/2015

Overview:

  • Pennsylvania rapid bridge replacement P3.
  • The consortium in charge of financing and developing Pennsylvania's rapid bridge replacement project has obtained $900 million.
  • The proceeds will be used to repair and replace 558 structurally deficient bridges in Pennsylvania over the course of three years. 
  • The developer consortium - Plenary Walsh Keystone Partners - consists of Plenary Group, the Walsh Group, Granite Construction Company and HDR Engineering. 
  • JP Morgan Securities and Wells Fargo Securities acted as lead underwriters on the PAB financing. 

Kurt Stumpo - Journalist

Jurisdiction:

United States

Deal types:

PPP
Project development
Project finance

Practice areas:

Project finance
Project development

Governing law:

United States

Industry sector:

Transport

Firms:
A&O Shearman

Party: Pennsylvania Department of Transportation (Concessionaire)

Ashurst

Party: JP Morgan Securities (Underwriter)

Party: Wells Fargo Securities (Underwriter)

Fasken

Party: Plenary Walsh Keystone Partners (Project developer)

Lawyers: Brian Kelsall, Ella Plotkin

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