Bankruptcy will bring new ownership to Texas 130’s southern stretch


The southern 41 mile-stretch of the Texas 130 toll road is coming under new ownership, but it’s too soon to say whether drivers will notice any difference.

SH 130 Concession Co. announced Friday that it will hand over the the ownership of the road to its lenders, who were not named, as part of the company’s Chapter 11 bankruptcy reorganization. The company will continue to operate and manage the tollway, which has struggled with light traffic and heavy debt since opening in late 2012.

When it filed for bankruptcy in March, SH 130 Concession Co. had lagging payments on about $1.7 billion of debt owed on the four-lane road, a figure that included $1.27 billion in principal and more than $400 million in unpaid interest, expenses and fees.

About $500 million is owed to the federal government under a low-interest loan program for transportation projects, and payments on that portion of the debt begin in 2017. But the company, which is owned 65 percent by Spanish toll road builder Cintra and 35 percent by Zachry Construction Co. from San Antonio, emphasized Friday that the state will not be financially affected by the debt restructuring.

“The Texas Department of Transportation contributed no money to build the project and is not liable for any of SH 130 Concession Company’s outstanding debt, money that was used to finance construction,” the company said in a press release Friday.

The company, using its own money and borrowed funds, built the $1.3 billion road from Mustang Ridge to Seguin under a 50-year lease with TxDOT. The road — technically owned by TxDOT despite SH 130 Concession’s primacy in its design, construction and operation — opened to great hoopla in October 2012 because of its first-in-the-nation 85 mph speed limit.

TxDOT receives a portion of the toll revenue from the southern stretch, where traffic has been below expectations. The traffic situation has been much better on Texas 130’s northern 49 miles from Mustang Ridge to the area near Georgetown, a section built and operated by TxDOT.


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