Locke Lord represented Impala Warehousing (US) LLC, a wholly-owned subsidiary of Trafigura AG, in a long-term $200 million tax-exempt bond financing for development of the Burnside Terminal in Louisiana. Located between New Orleans and Baton Rouge, the terminal is slated to become one of the country's largest coal facilities and a major bulk terminal for coal, bauxite and alumina. It currently handles raw materials and is one of the only Mississippi River facilities that accommodates both barge and rail transportation. The complex, two-part structured financing transaction began about 1 1/2 years ago and involved an initial variable rate tax-exempt bond issue and, on June 12, 2013, two issues of fixed rate tax-exempt bonds to refinance the variable rate issue and provide additional financing for the terminal. The Locke Lord team working on the transaction included Dallas Partner Mike Schulman
: Houston Partner Bill Swanstrom
; Dallas Partners John McKnight
and Elizabeth Mack
; and New Orleans Partners
and Victoria de Lisle.
Posted June 19, 2013