Pocahontas Parkway

Pocahontas Parkway – Richmond, VA

The Pocahontas Parkway (Route 895, near Richmond, Virginia) is an existing highway that was acquired by a private company under a 99-year concession.

As part of the transaction, the concessionaire defeased the existing bond obligations of the operator.

While with DEPFA Bank, Victoria Taylor was a member of the financial advisory team who advised the concessionaire who acquired the rights to manage, operate, maintain, and collect tolls on the project. Victoria’s team was responsible for managing the project’s due diligence process, negotiating concession terms with the Virginia Department of Transportation, presenting the project to potential lenders, and ultimately agreeing on terms with them to finance the acquisition.

A year following closing of the senior debt, Victoria’s team also acted as financial advisor to the concessionaire to negotiate and close an innovative TIFIA loan for the project which was used to refinance a portion of the senior debt and to fund the construction of an extension of the existing road.

type: acquisition and refinancing

Team Members: Victoria Taylor

Role: financial advisor

contract duration: 2006 - 2007

WEBSITE: https://www.pocahontas895.com/

Transaction Size: $604 million