FC for Central 70 P3

The Central 70 Project in Colorado has reached financial close.

The Colorado Department of Transportation (CDOT), government-owned High Performance Transportation Enterprise, Colorado Bridge Enterprise and the Meridiam-Kiewit consortium have sealed financial arrangements for the $1.2bn project.

RBC Capital Markets, Barclays and SMBC underwrote $116m of private activity bonds, with the US Department of Transportation providing a $416m TIFIA loan package.

Meridiam (60%) and Kiewit (40%) will design, build, finance, operate and maintain the projects, which consists of a reconstructed 10-mile stretch of the I-70 thought the city and county of Denver, one express lane in each direction with electronic toll collection system and a 4-acre cover over a lowered section of the roadway.

Kiewit Infrastructure will operate as a design-build contractor for the project, which reached commercial close in November.