RAV Light Rail – Richmond, British Columbia, Canada

This P3 project consists of a 19.5 km light rail link between downtown Vancouver, Central Richmond and Vancouver International Airport. The project company was awarded holds a 30-year concession for the DBFOM of the entire rapid transit system, including the main line, airport connector, the operation and maintenance center and rail equipment. The project’s credit profile was a combination of availability payments provided by the government of British Columbia and fare box revenues collected from rail line passengers. In previous roles, James Littlefair and Victoria Taylor separately acted as lenders to the project, performing extensive due diligence and negotiating key contracts on behalf of lender with the government, equity investor, and key project contractors as well as managing their banks’ exposure during construction.