Development & Financing

Proven Track Record of Securing Financial Close in a Variety of Deal Structures

As a well-established partner for infrastructure debt investors and other lending institutions worldwide, S&B USA Concessions provides years of experience and careful planning to help our clients work toward meeting their projects’ financial needs. Our team specializes in developing financing plans and securing optimal funding solutions that minimize overall financing costs and maximize execution certainty and capital structure stability. We specialize in developing financial plans that allocate risk to the party best able to manage it.

Our portfolio is comprised of a revenue risk P3 deal (SH 288), a progressive pre-development agreement (Pennsylvania Major Bridges), and a two availability payment P3 deals on two separate asset classes (Pennsylvania Major Bridges – Transport, and Fargo Stormwater Diversion Channel – Climate Resiliency).

This portfolio includes raising $3 billion of debt for two P3 projects:

• the nation’s largest design-build-finance-operate and maintain (DBFOM) climate resilience project, the Fargo Flood Diversion Channel (2021); and,
• the DBFM reconstruction/rehabilitation of six interstate bridge locations across Pennsylvania to address structural, functional, and roadway deficiencies through the PennDOT Major Bridge P3 Project (2022).

The former was the first transaction in the U.S. to combine tax-exempt private activity bonds (PABs) and a private placement loan for long-term debt financing, and the latter was the largest PAB project in the U.S. at that time.



Additionally, our concessions team developed and constructed the dynamically priced SH 288 DBFOM toll lanes in Houston, addressing one of the city's most congested highways. In May 2016, we reached financial close as a leading equity team member on this 52-year DBFOM project by securing a TIFIA loan and investment-grade private activity bonds (PABs) for the nearly $1 billion project. We divested this project in 2023.

We have won awards, primarily for project financing, from notable organizations such as Proximo, IJ Global, International Finance Law Review, P3 Awards, Bond Buyer, and ARTBA for our Fargo-Moorhead Flood Diversion Channel and PennDOT Major Bridges projects.

Flagship P3 projects in Shikun & Binui’s international 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.