FINANCIAL OVERVIEW

The financing structure for the project was a combination of commercial debt and a loan. Originally, it was anticipated that much of the funding would come through issues of private activity bonds (PABs). To encourage this, FDOT obtained approval from US DOT for a provisional allocation of US$2 billion. Nonetheless, private financing was all arranged in the senior debt bank market, with the balance provided by a TIFIA loan.

Senior bank debt was split into two tranches of short-term debt, one with a term of 9.5 years and the other with a term of 10 years.