HilltopSecurities Clients Recognized in P3 Awards 2020
DALLAS, March 29, 2021 – The P3 Bulletin recently announced that two HilltopSecurities public finance clients were recognized in the P3 Awards 2020. The Oklahoma Turnpike Authority (OTA), together with Gilcrease Developers LLC, along with Hawkins Construction, together with the Nebraska Department of Transportation (NDOT), were finalists in the Best Road Project category.
The OTA and Gilcrease Developers LLC were nominated for the Gilcrease Expressway West Project in Tulsa, Oklahoma. HilltopSecurities served as financial advisor to OTA on the $125 million Oklahoma Development Finance Authority Limited Obligation Revenue Bonds, Series 2020, which financed a portion of the construction of the transportation infrastructure, as well as the TIFIA loan to refinance such interim debt on a permanent basis. The project’s build-finance approach represented an estimated net present value savings of approximately $23 million, compared to the traditional design-bid-build approach. It was the first build-finance P3 project to be procured in the U.S. and the first roadway P3 undertaken in the state of Oklahoma.
Hawkins Construction and NDOT were nominated as finalists in the Best Road Project category for the $350 million Lincoln South Beltway Project in Lincoln, Nebraska. HilltopSecurities served as financial advisor to Hawkins Construction on the $236.8 million Arizona Industry Development Authority Revenue Bonds, Series 2020, which procured funds for the project. The first-of-its-kind transportation initiative utilized an innovative contractor-led build-finance structure to deliver the largest single-contract project in the history of NDOT.
The Lincoln South Beltway Project’s financing and innovative nature was also recognized in December of 2020 as The Bond Buyer’s Public-Private Partnership of the Year.
View a complete list of HilltopSecurities’ award-winning public finance deals.
About Hilltop Securities Inc.
Hilltop Securities Inc. delivers forthright advice and tailored solutions for municipal issuers, institutions, broker-dealers, and individuals. The full-service municipal investment bank and registered investment adviser is headquartered in Dallas, Texas, with offices across the United States. Areas of focus include public finance; municipal and taxable fixed income underwriting, sales, and trading; retail brokerage services; securities clearing; structured finance; and securities lending. A wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH), HilltopSecurities’ affiliates include Momentum Independent Network Inc., PlainsCapital Bank, and PrimeLending. Learn more at www.HilltopSecurities.com. Member: NYSE/FINRA/SIPC.
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