Infrastructure Investor receives prestigious award for flagship project

John Laing is delighted to announce that Massachusetts Bay Transportation Authority (MBTA) AFC 2.0 Project Reset and Refinancing has been named the North American Digital Infrastructure Deal of the Year by IJGlobal.

IJGlobal Awards recognise not only the best institutions, asset management and fundraising in energy and infrastructure, but also highlights their outstanding achievements in fundraising, deployment, asset management, acquisitions and exits. A panel of senior market participants has selected the winners from shortlists drawn up from industry-sourced submissions and nominations.

This award follows on from Proxima Infra’s award of North American Rail Deal of the Year for the same project announced in March.

Commenting on the award, David Wylie, Asset Director, North America at John Laing said

‘We are delighted with this award from IJ Global. The importance of this MBTA project to the greater Boston area is significant as it will have a positive impact on the lives of millions of riders in Massachusetts. It is the first public-private partnership in New England, the first public-private partnership for the MBTA and the first public-private partnership for an Automated Fare Collection system.

The timing of the deal was especially challenging in light of the pandemic, with financial close achieved on June 15 2020. The team faced financial market liquidity constraints, financial market uncertainties, resourcing constraints, government imposed lock-downs and travel restrictions.

The deal team had to pull together to show commercial agility, creativity and count on the strength of their client relationships. It is great to have this hard work recognized with this prestigious award.