Salt Lake City– A team of Ballard Spahr attorneys led by Partner Darin Lowder and Associate Annie Tsai advised Zions Bank in its syndicated loan to NewCold Advanced Cold Logistics for construction of a highly automated cold storage facility for frozen food products, located in Burley, Idaho.
Zions Bank served as lender, administrative agent, and co-lead arranger for the transaction. NewCold’s 180,000-square-foot, state-of-the-art freezer will be one of the largest frozen storage facilities of its kind in the United States. It will bring about 75 jobs to Burley.
Headquartered in Salt Lake City, Utah, Zions Bancorporation is one of the nation’s premier financial services companies, with total assets exceeding $65 billion. NewCold is a deep-frozen storage and logistics company based in the Netherlands.
Mr. Lowder, based in Ballard Spahr’s Washington, D.C., office, focuses on energy, project finance, project development, and related tax and public financing tools. He has represented lenders and developers in energy projects across the country.
Ms. Tsai, from the firm’s Los Angeles office, focuses her practice on energy finance, advising clients on the development, acquisition, and financing of renewable energy projects.
About Ballard Spahr
Ballard Spahr LLP, an Am Law 100 law firm with more than 650 lawyers in 15 offices in the United States, provides a range of services in litigation, business and finance, real estate, intellectual property, and public finance. Our clients include Fortune 500 companies, financial institutions, life sciences and technology companies, health systems, investors and developers, government agencies, media clients, educational institutions, and nonprofit organizations. The firm combines a national scope of practice with strong regional market knowledge. For more information, please visit www.ballardspahr.com.