G&W
G&W recently reported that overall satisfaction with its customer service is up for the third consecutive period based on the company’s biennial survey of its customers.
In related news, G&W also recently celebrated the 40th anniversary of RSR. Spanning 101 miles, this short line railroad serves customers in western New York and offers shippers access to the North American freight rail network via interchange with CPKC, CSX and Norfolk Southern (NS).
Alaska Railroad Corporation
The Alaska Railroad Corporation on Dec. 3 announced that it has completed an innovative $112 million port revenue bond issuance to provide long-term financing for the replacement of the 60-year-old cruise ship dock and terminal in Seward, Alaska—a critical gateway serving more than 205,000 passengers annually and a vital component of Alaska’s $2.2 billion cruise ship tourism economy. The new facility will accommodate larger vessels and support continued economic growth in a state where 65% of summer tourists arrive by cruise ship, according to the company.
The deal was named The Bond Buyer’s Deal of the Year in the Far West category. BofA Securities acted as the senior manager and Wells Fargo acted as the co-manager.
Orrick served as counsel to lender Goldman Sachs Bank USA, who provided the interim construction loan to Seward Company, the Alaska-based private developer, to finance a portion of the construction costs of the $137 million cruise terminal and pier.
