July 17, 2017
SH 130 Concession Co., a private company that operates and maintains the 41-mile southern section of SH 130 in Central Texas, has emerged from Chapter 11 bankruptcy protection. The company has new owners and $260 million in new financing. Strategic Value Partners LLC is leading the ownership group, while Louis Berger Services is operating and maintaining the roadway. The southern portion of the road starts in Georgetown, TX, loops around Austin, and ends near Interstate 10 in Seguin, TX.
SH 130 was formed in 2005 by Spanish-owned Cintra and Zachary American Infrastructure, to develop and manage the roadway. The partners had put up their own equity, and took on $1.4 billion in debt for rights of way and route design. However, toll income generated didn’t meet original earnings projections, which were set before the Great Recession.
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