International law firm Freshfields Bruckhaus Deringer acted as counsel to lenders and credit providers supporting the Preferred Bidder to design, build, finance, operate and maintain a tolled bridge over the River Mersey.

The project involves the development of a new six-lane toll bridge over the river, connecting Runcorn and Widnes. The existing Silver Jubilee Bridge - which will also be tolled - will be remodelled as a local bridge as part of the scheme.

The Freshfields team comprised partners Alex Carver, Chris Barratt and Nick Bliss alongside senior associates Alistair Black and Helen Jones.

Alex Carver commented, ‘This project will be the first public bond issuance to benefit from the UK Guarantee Scheme, which is designed to help critical infrastructure projects reach financial close. The £50 billion Scheme is a prime example of how infrastructure deals of this magnitude and importance will be financed going forward.‘

This is a landmark transaction in which the firm has played an instrumental role - closely following on the A11 Belgian Road deal that closed last week - in applying credit enhancement techniques to permit a greenfield "shovel-ready" project to access the public debt capital markets; a major post financial crisis concern of governments across the EU.