S&B USA Concessions is one of North America’s leading private infrastructure developers and financial arrangers of public infrastructure projects delivered using the P3 model. Our portfolio includes P3 projects that are i) developing dynamically priced toll lanes on Houston’s third most congested highway (SH 288 Toll Lanes), ii) constructing the nation’s largest climate resilience project (Fargo-Moorhead Stormwater Diversion Channel), and iii) delivering the reconstruction/rehabilitation of six bridges across the commonwealth of PA to address structural, functional and roadway deficiencies (PennDOT Major Bridge P3 Program).
S&B USA Concession has recently raised $3 billion of debt for two P3 projects; the Fargo-Moorhead Diversion Channel (2021) and the PennDOT Major Bridges Program (2022). The former was the first transaction in the US to combine tax-exempt private activity bonds (PABs) and a private placement loan for long-term debt financing, and the latter is the largest PAB project in the US to date.
S&B USA Concessions has a successful history of securing financial close for P3 projects under various concession schemes and market conditions. In May 2016, we reached financial close as a leading equity team member on the 52-year DBFOM SH 288 Toll Lanes project in Harris County, TX by securing a TIFIA loan and investment-grade private activity bonds (PABs) for the nearly $1 billion project.
Our parent company, Shikun & Binui Ltd., has nearly 100 years of experience constructing complex large-scale infrastructure projects, 20 of which were spent in privately financed and developed DBFOM public infrastructure projects. To date, Shikun & Binui has reached financial close on over 25 such projects valued at more than $9 billion, including six transportation projects, four of which are real toll concessions.
Flagship P3 projects in Shikun & Binui’s portfolio include the Cross Israel Highway—Israel’s first and largest toll road—and the Carmel Toll Tunnel—Israel’s most complex bridge and tunnel P3 project. These projects currently serve over six million customers annually and include state-of-the-art operations, ITS and tolling systems.
S&B USA Concessions engages in the development and execution of P3 mega projects and specializes in transportation, water and energy. Our diversified abilities and considerable experience in the finance, construction, and long-term maintenance and operations industries help us provide solutions to a wide range of complex issues.
We view our commitment to maintain operational excellence in our contribution to both our clients and society as a whole. Our projects create sustainable living environments and address global challenges, such as dwindling natural resources and climate change. It is imperative for us to incorporate our capabilities and experience in the development, construction and operation of complex mega projects to deliver large-scale endeavors for the betterment of communities and the environment.
Our team offers total asset management in order to provide clients with a lifecycle procurement approach that guarantees performance.
We specialize in infrastructure financing plans that allocate risk to the party best able to manage it—S&B USA Concessions has financed three P3 projects in the United States within the last five years; while our parent company Shikun & Binui, has financed over 26 infrastructure projects.
Read the article that Sam Headon contributed to for the P3 Bulletin to find out and learn more about our involvement in the EV sector.
The time has come to change the way public entities replace and expand infrastructure. Traditional methods are becoming less viable as larger projects arise because of aging infrastructure which needs to be repaired or replaced.
Almost 7 years after Pennsylvania signed its first P3 agreement, the Commonwealth reached financial close on another significant bridges project - Pennsylvania Department of Transportation's (PennDOT) first package of the Major Bridges P3 Redevelopment Package 1 program.