© 2016 The Texas Lawbook.
By Natalie Posgate
(Aug. 29) – The U.S. Department of Transportation said today that it has closed a $2.45 billion loan to the national rail operator, Amtrak.
Amtrak will use the loan to acquire Tire III next generation high-speed trainsets on the Northeast Corridor between Boston and Washington, D.C. It will also use the loan to fund other facility improvements, safety mitigation and ride quality measures.
The loan was executed through the government’s Railroad Rehabilitation and Improvement Financing (RRIF) Program. The transaction marks the largest single loan in the Department of Transportation’s history.
The Department of Transportation turned to Baker Botts to handle the loan. Though the team was primarily New York-based, it included Austin associate Clint Culpepper.
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