The Port of Corpus Christi has actually offered over $216 million in bonds to assist fund the strengthening and also expanding of the Corpus Christi Ship Channel.

Currently at a deepness of 45 feet, the Ship Channel will certainly be dug up to 54 feet to fit Suezmax and also bigger vessels, and also expanded to 530 feet to permit two-way web traffic moves, placing the Port of Corpus Christi as the inmost draft navigating Port in the United States Gulf.

The enhancements are made to deal with the expanding export quantities people crude and also gas, which have actually thrust the Port of Corpus Christi to what is currently the biggest power export Port in the United States by quantity.

The Port’s Senior Lien Revenue Bond 2018 Series rates adheres to solid rankings reiterations gotten from both Moody’s Investors Service and also S&PGlobal Ratings Moody’s appointed an A1 Rating to the Port’s recently released financial debt, while updating the Port’s existing financial debt from A1 to Aa3. S&P appointed a ranking of A+ to the Port’s recently released financial debt, while declaring the very same score for the existing financial debt.

“We are pleased with the level of interest the institutional investment community demonstrated for both series of our bonds.” stated Sean Strawbridge, CHIEF EXECUTIVE OFFICER of the Port ofCorpus Christi “This round of funding will help the Port of Corpus Christi further progress our ambitious yet achievable capital investment program designed to increase exports of US produced energy to our allies and trading partners around the world.”

The $335 million Corpus Christi Ship Channel job has actually thus far gotten over $138 million in Federal and also Port added funds, with digging up procedures set up to begin later on this year.