The Bond Buyer takes a deep dive into the proposed bankruptcy reorganization of the SH 130 Concession Company, reporting that, “Despite the lack of financial risk [to the State of Texas], the failure of the concession model is a significant setback for the TxDOT’s efforts to keep pace with construction needs through private finance.” The report adds, “TxDOT will continue to own the road and must approve any new operator, according to terms of the original deal. The transition to a new owner is expected to take up to 18 months.” The article notes that although ten international banks “helped finance the project, five hold the majority of the debt: Banco Santander, Caixabank, Bankia, Banco Espirito Santo and BNP Paribas.”
