The Utah Inland Port Authority (UIPA) successfully sold its Crossroads Public Infrastructure District Tax Differential bonds, securing $150 million in funding for public infrastructure.
The bonds were well received and generated investor orders roughly five times greater than the amount of bonds available.
“This offering demonstrated the need for problem solvers to address the supply chain challenges we’re facing,” said Jill Flygare, who serves as executive director of the Utah Inland Port Authority Crossroads Public Infrastructure District. “There is a huge opportunity to enhance logistics in Utah, and it is exciting to have so many national investors who want to be part of what we’re doing.”
Piper Sandler’s Special District Group was the underwriter of the transaction and secured the positive response from investors. Investor demand led to a lower interest rate, allowing the issuer to save nearly $17.5 million in interest costs compared to the or