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Empire Diversified Energy Closes Acquisition of Facilities from Trimodal Terminal
Thursday 03 December 2020

US-based Empire Diversified Energy, Inc's Empire Trimodal Terminal LLC subsidiary has acquired certain facilities from Trimodal Terminal LP located in Brooke County, West Virginia, the company said.

The facilities, with an appraised value of USD 39m, were acquired with proceeds from the issuance by the West Virginia Economic Development Authority of Dock and Wharf Revenue Bonds in the principal amount of USD 26m and bearing a coupon rate of 7-5/8%.

Citigroup Global Market Inc. was the underwriter for the Bonds.

The acquisition and the financing was made pursuant to an agreement between the Authority and
Empire Trimodal with the proceeds being used to finance or refinance the costs of acquisition, construction and equipment of dock and wharf Facilities.

The obligations of Empire Trimodal are guaranteed by MPIR.
Date Published: 03/12/2020