Mayer Brown advises WVB East End Partners on closing of East End Crossing toll road public-private agreement
1 April 2013
Mayer Brown, a leading global law firm, represented WVB East End Partners, LLC, a private sector consortium comprised of affiliates of Bilfinger Project Investments North America, Inc., VINCI Concessions S.A.S. and The Walsh Group Ltd., as sponsors’ counsel on the financial close of the East End Crossing, a new toll bridge and roadway spanning the Ohio River between Louisville, KY and Southern Indiana.
The bridge is to be implemented through a long-term public-private agreement with the Indiana Finance Authority (IFA). Financial close for the transaction was achieved through the issuance of $676,805,000 in tax-exempt private activity bonds (PABs) by the IFA for the benefit of the WVB East End Partners, LLC consortium. This is the largest issuance to date of surface transportation PABs under authorizing legislation enacted in 2005.
WVB East End Partners, LLC was selected by the IFA in late 2012 to construct, operate and maintain the East End Crossing under a 35 year public-private agreement. Mayer Brown also represented WVB East End Partners, LLC in the negotiation of the public-private agreement.
The Mayer Brown team included: Chicago partners David Narefsky, Joseph Seliga and Joanna Horsnail and associates Stephanie Wagner and Mitchell Holzrichter of the firm’s Government & Global Trade practice; New York partner George Miller, Chicago partner John Lawlor and New York associate Sandy Zhang of the firm’s Banking & Finance practice; and Chicago counsel Richard Ziegler of the Restructuring, Bankruptcy & Insolvency practice.