University of Toledo Parking Concession

Overview

Deal Type Debt Capital Markets
Size $68.6 Million
Tax-Exempt Revenue Bonds
Client & Transactional Partners Toledo-Lucas County Port Authority
Diogenes-FG
SP Plus Corporation
Our Role Sole Manager

Summary

On October 7, 2021, KeyBanc Capital Markets (KBCM) successfully closed $68.67 million in Tax-Exempt Parking System Revenue Bonds, Series 2021 (the Bonds) for ParkUToledo, an SPE formed by the Toledo-Lucas County Port Authority. The Bonds are being issued for the purpose of providing funds (i) for acquiring, constructing, furnishing, equipping, maintaining and improving real and personal property, or any combination thereof, comprising the Parking System; (ii) to finance additional costs to improve the Project and the Parking System; (iii) to fund the Debt Service Reserve Fund for the Series 2021 Bonds; (iv) to fund capitalized interest on the Series 2021 Bonds; and (v) to fund the costs of issuing the Series 2021 Bonds. KBCM served as Sole Manager on the transaction.

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