GLAS Brand_ Proximo Deal (4)

GLAS Americas transaction recognised on 2023 Deals of the Year list

GLAS is thrilled to see a transaction we were involved in named as the 2023 North American Transport Deal of the Year in the Proximo’s annual list.

The transaction underpinned the refinancing of a project which supported the extension of the State Highway 130 on Highway I-35 in Austin, Texas.

The SH130 project is the first privately developed and operated open toll road facility in Texas, a partnership between TxDOT and the SH 130 Concession Company.

The project included the design and construction of 72 new bridges, with a total of 28 million cubic yards of earthwork and 1.8 million tonnes of asphalt utilised at a total project cost exceeding $1.3bn.

GLAS Americas was brought in to act as Administrative Agent on a $600m Private Placement.

The multi-tranche, multi-market refinancing successfully obtained a larger debt size and an improved rating whilst keeping hedging costs and interest rates to a minimum.

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $390bn of assets under administration on a daily basis. For more information, please contact