Milbank LLP advised Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (“JOIN”) and Japan Bank for International Cooperation (“JBIC”) as lenders to Texas Central Rail Holdings, LLC (“Texas Central”), a private company developing a high-speed rail link between Dallas and Houston in Texas. Under the financing agreement signed September 7, 2018, JBIC and JOIN will fund US$300 million via a special purpose financing vehicle to Texas Central for early development activities in relation to the railway project.
The Texas High Speed Railway Project will utilize rolling stock and railway technology based on Central Japan Railway Company’s Tokaido Shinkansen system.
The cross-border Milbank team was led by Tokyo-based Project, Energy and Infrastructure Finance partner Aled Davies, who was assisted by Los Angeles-based of counsel Michael Dayen and Tokyo-based associate Aaron Mundy.
Mr. Davies said: “We are pleased to support JBIC and JOIN in reaching an important milestone for this project.”
