CMC Railroad has closed an $87.9 million credit facility with Bank of Texas, a division of BOK Financial, to refinance existing debt and fund expansion at Gulf Inland Logistics Park. The financing will support the addition of approximately 1,100 new railcar storage spaces, bringing the total to 2,000, as well as investments in track infrastructure and transload facilities. CMC Railroad is the sole rail service partner for the 3,800-acre industrial park in Dayton, Texas, which has already attracted seven anchor tenants, over 400 new jobs, and about $250 million in capital investment during Phase One. Bank of Texas Relationship Manager George Sarvadi said the bank is committed to supporting rail infrastructure development in Houston and views the financing as positioning CMC for continued growth.
BOK Financial CorporationBank of Texas, a division of BOK Financial, provides the credit facility, generating fee income and interest revenue.
Commercial Metals CompanySecures $87.9 million credit facility to refinance debt and fund expansion.
