VINCI and Partners Walsh and Bilfinger Pi Finalize Financing for the Ohio
River East End Crossing Project in Indiana (USA)
RUEIL-MALMAISON, France -- March 28, 2013
VINCI (Paris:DG) :
*Project includes construction of bridges and a tunnel linking Louisville,
Kentucky, to Southern Indiana in one of the biggest transportation
infrastructure projects in the US.
*Private activity bonds rated “BBB” by Standard & Poor’s, the first S&P
public rating for such a public-private partnership project in the US, and
by Fitch rating services.
WVB East End Partners, a consortium led by VINCI Concessions (33.3%) with
Walsh Investors (33.3%) and Bilfinger PI International Holdings (33.3%),
announced today that it has finalized the financing for the East End Crossing
project, which is part of the larger Ohio River Bridges Project. The total
value of the contract is approximately $1 billion (€780 million).
The Standard & Poor’s and Fitch bond rating services have assigned a “BBB”
rating with a “Stable” outlook to $677 million in private activity bonds that
will finance the project. In its report, Standard & Poor’s notes that this is
the first time it has issued a rating for a public-private partnership of this
type in the United States.
East End Crossing is a public-private agreement between WVB East End Partners
and the Indiana Finance Authority for:
*A 2,500 feet-long cable-stayed main bridge across the Ohio River that will
link Louisville, Kentucky, to Southern Indiana;
*A 1,680 feet-long twin-bore tunnel on the Kentucky approach to the bridge;
*19 additional smaller bridges, and
*Associated roadway improvements and infrastructure work.
The main bridge will be located about 8 miles from downtown Louisville and is
part of the broader Ohio River Bridges Project, one of the largest transport
improvement projects in the United States.
The consortium also will be responsible for the operation, routine maintenance
and rehabilitation of a substantial portion of the East End Crossing for a
period of 35 years.
The works, scheduled to take 3.5 years, will be executed by a design-build
joint venture including Walsh Construction (60%), VINCI Construction Grands
Projets (40%) with Jacobs Engineering handling the engineering works.
Construction is set to commence in May 2013 and completion is expected by
Maxence Naouri, +33 1 47 16 31 82
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