Connecticut Service Plazas P3 Project
Overview
| Deal Type |
Debt Capital Markets |
|---|---|
| Size |
$138.5 Million Amortizing Senior Secured Notes |
| Client & Transactional Partners |
Connecticut Service Plazas Applegreen TDAM IST3 Project Service LLC |
| Our Role |
Joint Lead Arranger Placement Agent |
Summary
On May 27, 2021, KeyBanc Capital Markets (“KBCM”), along with ING Financial Markets LLC, successfully closed a ~$138.5 million Amortizing Senior Secured Notes private placement transaction for Project Service LLC (the “Company”), an entity wholly owned by IST3, Applegreen, and TDAM. KBCM served as Joint Lead Arranger and Placement Agent.
The Company will use the proceeds to refinance existing bank debt and secure long-term financing for the operation and maintenance of the Connecticut Service Plazas P3 Project – a public-private partnership with the State of Connecticut – as well as to pay transaction costs.
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