Transportation
NW Financial has served as an advisor to many of the largest transportation issuers in the nation, including America’s two largest and oldest toll road systems: the New Jersey Turnpike Authority and the Pennsylvania Turnpike Commission. NW Financial is a recognized expert in the field of transportation finance and has acted as a financial architect for over $29 Billion of transportation finance projects. In addition to direct financing experience, we have provided policy and planning advice to a broad range of clients in their consideration of transportation financing options and have spoken on these topics before many governmental and transportation industry groups including:
- Transportation Subcommittee of the United State Congress
- Infrastructure Subcommittee of the United States Senate
- Transportation Committee of the Council of State Governments
- International Bridge Tunnel and Turnpike Association (“IBTTA”)
- Texas State Senate Transportation Committee
- Bond Buyer Transportation Conference
Dennis Enright, the firm’s principal, has written four major policy reports on transportation finance which have become the benchmark in evaluating the use of public/private partnerships in transportation finance. One of these reports is currently being utilized as required reading for an infrastructure course at Harvard’s Kennedy School.
The Chicago Skyway Sale
An Analytical Review
May 1, 2006
Indiana Toll Road vs. Chicago Skyway
An Analytical Review of Two Public/Private Partnerships
November 1, 2006
Texas Hold ’em
Will the State Go “All-In” on Public Private Partnerships
(“CDAs”) and Lose $2 Billion?
April 12, 2007
Public vs. Private Toll Road Choice in the United States
June 1, 2007
NW Financial has served as the advisor to the New Jersey Turnpike Authority and the New Jersey Highway Authority. We have also served as an advisor to the South Jersey Transportation Authority, New Jersey Transportation Trust Fund, and the Delaware River Joint Toll Bridge Commission. In these roles, we have been responsible for a wide variety of activities including:
- Revenue and expense modeling to support multi-billion dollar bond financings
- Execution of unique financial products
- Taxable bonds
- Interest rate swaps
- Cinderella bonds
- Forward settlement swaps
- Structuring financial terms
- Presentations before bond rating agencies
- Securing of credit enhancement from banks and bond insurers
- Negotiating swap terminations
- Negotiating tight pricing on bond offerings
NW’s success in creating and implementing toll facility financing programs throughout the nation is a result of our knowledge and experience across a broad range of transportation projects, including toll road and bridge projects. Our transportation team has developed award-winning financial structures for numerous government and authority clients.