financial close

2012-07-31 Midday: The VA/I-95 toll express lanes project on I-95 from the Capital Beltway at Springfield south to Fredericksburg VA is going to a financial close today with financing averaging 4.5 percent fixed rate loans. The approx $1 billion project will widen a 2-lanes reversible HOV to 3 lanes and extend it 10 miles south, add interchanges and bus transit and manage traffic with variable tolls.

The Puerto Rico government and a Goldman Sachs/Abertis joint venture called Metropistas have closed on a 40 year toll concession project for PR22 and PR5. The tollroads which currently generate about $90m/year will be expanded and modernized by the venture which has paid the state an upfront fee of $1,136m.