East End Crossing Partners, the consortium responsible for the operation of cable-stayed Lewis and Clark Bridge across the Ohio River, executed US$528 million green bonds offering to refinance its existing indebtedness. The Private Activity Refunding Bonds, Series 2021, (Green Bonds) (federally taxable) are issued by the Indiana Finance Authority (IFA) as conduit bonds and loaned to East End Crossing Partners.

End Crossing Partners was created in 2016 to execute the 35-year PPP contract that was awarded by IFA, to design, build, finance, operate and maintain the bridge. This was the first bi-state public-private partnership ever attributed in the USA to develop highway mobility.

Belen Marcos, CEO of VINCI Highways and Executive Vice-president of VINCI Concessions, said: “Lewis and Clark Bridge is a strong demonstration of the efficiency of public-private relationship to develop and improve mobility in the States. The successful refinancing shows the investors’ long-term confidence in infrastructure P3s. Lewis and Clark bridge will keep delivering positive impact for the inhabitants of Louisville and Southern Indiana, improving daily lives and unlocking long-term economic opportunities”.

The bonds were underwritten by BofA Securities, JP Morgan, RBC and Morgan Stanley.  Agentis Capital has acted as financial advisor to EECP and Mayer Brown LLP and Dinsmore & Shohl have acted as legal counsel to EECP. Barnes & Thornburg served as bond counsel, Chapman and Cutler is underwriters’ counsel and Dentons Bingham Greenebaum is IFA’s counsel.