WASHINGTON — The Virginia Small Business Financing Authority will price $262.3 million of bonds on behalf of 95 Express Lanes LLC next week, financing that is expected to combine with a $300 million federal loan to finance one of the state’s biggest public-private partnerships.

The nearly $1 billion 95 Express Lanes Project is one of the Virginia Department of Transportation’s “mega projects,” and the commonwealth has entered into an agreement with 95 Express Lanes allowing it to collect toll revenue from managed pay lanes on 29 miles of what are currently medians between Interstates 95 and 395.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.