A&O Shearman Advises U.S. Department of Transportation on USD2.52 Billion TIFIA Loan for Mobile River Bridge and Bayway Project

A&O Shearman advised the U.S. Department of Transportation on the development and financing of the Mobile River Bridge and Bayway project. The financing package includes a USD2.52 billion TIFIA loan alongside four series of toll revenue bonds and bond anticipation notes, both taxable and tax-exempt, totaling approximately USD3.8 billion. Construction is expected to begin in October 2026, with the new bridge and Phase One improvements anticipated to open to traffic by late 2031. The project will deliver a new six‑lane, cable‑stayed bridge across the Mobile River and improvements to the existing Bayway corridor along Interstate 10 between Mobile and Baldwin counties, including expanded lane capacity across Mobile Bay. It is intended to address congestion and safety challenges on this heavily trafficked Gulf Coast corridor, enhance hurricane evacuation capacity and provide a dedicated Interstate route for hazardous‑material freight currently prohibited from using the Wallace Tunnel. Phase One has a construction cost of USD5.3 billion and is supported by a USD550 million Bridge Investment Program grant, a USD125 million INFRA grant and substantial state investment in addition to the TIFIA loan and the bonds. A&O Shearman represented the U.S. Department of Transportation with a team composed by: Paul Epstein, Partner, New York; Peter Tolson, Counsel, Los Angeles; Rebecca Dresner, Associate, New York; Rachel Goldberg, Associate, Los Angeles.

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A&O Shearman Advises U.S. Department of Transportation on USD2.52 Billion TIFIA Loan for Mobile River Bridge and Bayway Project

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A&O Shearman Advises U.S. Department of Transportation on USD2.52 Billion TIFIA Loan for Mobile River Bridge and Bayway Project

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