The Dayton Port closes $270M bond deal with DHL
The Dayton/Montgomery County Port Authority closed a $270 million bond deal with DHL Worldwide Express' air park in Clinton County this week.
The deal, which allows the port to finance a 42-building expansion project, was reached last March and the bond issuance was made official this week, said Ron Parker, executive director of the port authority.
The facility in Wilmington serves as the shipping company's principal air and ground hub in the United States and employs more than 7,000.
The Dayton port authority had been mired in litigation with the Clinton County Port Authority involving the rights to finance the deal. The agreement prohibits the Dayton port to finance projects other than this one.
This deal is a good one for DHL because the port is charging $350,000 to the company for the financing, much less than the $4 million the Clinton County port was going to charge, Parker said. DHL also was required to pay the Dayton port's legal fees, which grew to more than $100,000.
The deal, which allows the port to finance a 42-building expansion project, was reached last March and the bond issuance was made official this week, said Ron Parker, executive director of the port authority.
The facility in Wilmington serves as the shipping company's principal air and ground hub in the United States and employs more than 7,000.
The Dayton port authority had been mired in litigation with the Clinton County Port Authority involving the rights to finance the deal. The agreement prohibits the Dayton port to finance projects other than this one.
This deal is a good one for DHL because the port is charging $350,000 to the company for the financing, much less than the $4 million the Clinton County port was going to charge, Parker said. DHL also was required to pay the Dayton port's legal fees, which grew to more than $100,000.
