New Round of Funding for Corpus Christi Deepening Works
- Business & Finance
The Port of Corpus Christi successfully priced and sold $216.2 million of Senior Lien Revenue Bonds on Tuesday, July 24, 2018.
According to their official announcement, these bonds will be used for both the deepening and widening of the Corpus Christi Ship Channel as well as upcoming capital projects within the port.
Wells Fargo Securities acted as Lead Manager of a syndicate of underwriters including JP Morgan, Citigroup and Frost Bank.
“We are pleased with the level of interest the institutional investment community demonstrated for both series of our bonds,” said Sean Strawbridge, CEO of the Port of Corpus Christi.
“This round of funding will help the Port of Corpus Christi further progress our ambitious yet achievable capital investment program designed to increase exports of US produced energy to our allies and trading partners around the world.”
The port’s Senior Lien Revenue Bond 2018 Series pricing follows strong ratings reiterations received from both Moody’s Investors Service and S&P Global Ratings.