NOLA Terminal has announced the issuance of over $97,000,000 municipal bonds through Plaquemines Port. The bonds are made up of $77,000,000 in tax-exempt funds and $21,000,000 in taxable bonds. Morgan Stanley acted as lead underwriting agent along with Celadon Capital.
Plaquemines Port will again act as a conduit municipal bond issuer to permit NOLA Terminal to access the municipal market. “We are excited to assist NOLA Terminals with this Bond transaction and look forward to jointly marketing the new facility that includes two large existing Suez Max docks,” Port Executive Director Charles Tillotson stated. “These improvements will poise NOLA Terminals to handle the largest vessels traversing the Mississippi River.”
Since beginning operations in 2013, NOLA Terminal has established itself as a vital component of the regional economy. The facility spans 152.8 acres and boasts three docks capable of handling vessels up to cape size. Current operations include the handling of aggregates, sand, and bagged cement.
With the aid of bond funding, NOLA is poised to expand its capabilities significantly. This expansion will allow us to provide additional handling services for a diverse range of bulk, break bulk, and specialty products. NOLA will be able to build to suit for customers and partners, enhancing our service offerings and operational flexibility. “We are grateful for the continuous support from the Port of Plaquemines, the Parish, and the State, and we look forward to our continued partnership as we grow and evolve,” stated Brian Miles, Nola Terminal Chief Executive Officer.
The initial bond funding is a pivotal step in our growth journey, and we anticipate additional bond offerings to support further infrastructure development. NOLA has been approved for up to $900 million in bond financing, underscoring our commitment to ongoing expansion and service enhancement. Inbound and outbound maritime handling will continue at NOLA’s upriver dock, ensuring efficient logistics and transportation. NOLA’s master plan also includes extensive indoor and outdoor storage options, incorporating warehousing, silos, and domes to meet a variety of storage needs."
