Financial Guarantees
Infrastructure FinancePFI/PPP FinancingsTransportation
Transportation
FSA has extensive experience in transportation infrastructure transactions, which typically involve long-term government concessions to private developers and operators. We have been active in a number of countries around the world, bringing our accumulated knowledge from the U.S. transportation revenue bond market combined with our expertise in structured finance. We were the first to guarantee a transportation PPP transaction in the United States, the $1.4 billion Chicago Skyway issue in 2005.
For motorways, including bridges and tunnels, we guarantee transactions based on:
- direct government payments conditioned on the availability of the motorway to travelers
- toll revenues, or
- shadow toll revenues, where tolls are not collected but government payments reflect measured traffic levels.
We have insured road, bridge and tunnel transactions in Europe, the Americas and Australia.
We also offer our guaranty for qualified financings to build, upgrade or operate mass transit systems and for leveraged lease transactions to finance commuter rail equipment.
Airport Finance
Private companies operating airports under long-term government leases or concessions gain capital market access by issuing FSA-insured bonds. We have been particularly successful in Australia and New Zealand, guaranteeing issues for the Sydney, Perth and Wellington airports.