TIFIA, the largest federal lending agency in the United States, engaged Castalia to appraise specific loans that it issues to state transportation agencies to develop several expressways. Castalia has advised TIFIA on six expressway transactions since 2014 to date—the Monroe Connector (North Carolina), the 183N, 183A, and 193S sections of the Bergstrom expressway (Texas), the 290E Manor expressway (Texas), and the Wekiva expressway (Florida).
How we helped
Castalia appraised $847 billion worth of loans made by TIFIA for innovative transportation projects across the USA, which involved reviewing project risks, appraising TIFIA’s financial model, and developing a lenders base case model and sensitivities to determine the credit risk of each transaction. We then supported TIFIA in its procurement and negotiations for each project.
Each of the six expressway transactions successfully reached closed, five of which are under construction. The 183A Bergstrom Expressway is now operational.