Maryland's Purple Line Rail Transit Project Reaches Financial Close

July.09.2016

Orrick advised the Purple Line Transit Partners consortium as sponsors’ counsel on the financing of the Purple Line light rail transit, an 11 mile line in Maryland with 21 stations extending from Bethesda to New Carrollton. The transaction closed on June 20, 2016.

The Maryland Department of Transportation selected the consortium, consisting of Meridiam Infrastructure North America II, Fluor Enterprises, Inc. and Star America Infrastructure Fund, to design, build, finance, operate and maintain the Purple Line light rail project.

The $2 billion PPP project is the second ever transit PPP to reach financial close in the US and the first rail PPP for the state of Maryland. The financing includes an $874.6 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan from the United States Department of Transportation and $313 million from Private Activity Bonds.

The Orrick team was led by partner Dan Mathews and senior associates Irma Foley and Susan Long, and includes partner Keith Kriebel, of counsels Susan Gottlieb and Alex Selipanov, managing associate Michael Shiu and associate John Thomson.

Related Lawyers

Daniel Mathews Partner, Infrastructure, Energy

New York

See my bio

D:+1 212 506 5050
E: [email protected]

Practice:

Energy & Infrastructure Sector
Infrastructure
Energy
Transportation Finance
Mergers & Acquisitions

vCard

See full bio

Daniel Mathews Partner

New York

His key clients include major strategic and financial sponsors who have been involved in many of the largest and highest profile PPP and project development transactions over the past 25 years. Dan advises clients on Public-Private Partnerships, large-scale, complex project financings, and acquisitions and divestitures of projects and project portfolios, leading a team that has the depth and breadth to deliver excellence in every phase of a project, including development, construction, financing and operations, as well as providing leading M&A, restructuring and tax advice.

Dan has long been recognized as a leading practitioner in publications such as Chambers (every year since 2005), The Legal 500 and others. Clients describe him in Chambers as a “dean in the PPP space,” the “best in the business” and added that “he has an encyclopedic memory about all the deals in the market and a negotiating style that solves problems rather than creating them.”

Dan advises on projects spanning the infrastructure sector, including toll roads, rail, airports, ports, thermal and renewable energy generation, transmission infrastructure, telecommunications infrastructure, and water and waste facilities.