Bonds for Savannah
The Georgia Ports Authority (GPA) does not intend to finance the build-up of its port facilities via credits from banks. Instead, it has announced plans to issue via public offering approximately USD 425 million in revenue bonds to fund infrastructure projects at the Port of Savannah.
The bonds are tentatively set to be offered for sale during the week of 18 October 2021. They will fund capital improvements to expand GPA’s capacity to serve the largest vessels calling on the U.S. East Coast. The bonds will be offered by a syndicate led by senior manager BofA Securities with Academy Securities, Citigroup Global Markets, J.P. Morgan Securities, Raymond James & Associates, Siebert Williams Shank & Co and Wells Fargo Bank, National Association as co-managers. (sh)