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CTL activity slow but strong

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After a brief delay associated with new tax legislation, the CTL conductors at Legg Mason Wood Walker have shunted their $215 million bond lease transaction for The Burlington Northern and Santa Fe Railway Company onto the mainline.

Proceeds from the deal will be used to help fund the construction of a 621-acre, intermodal rail yard in Elwood, Ill. – one of the nation’s largest – leased to BNSF with a 20-year term and an average life of 14.9 years. BNSF is rated Baa2’/BBB+’ by Moody’s/S&P.

In addition, Legg Mason is close to closing a roughly $12.8 million credit tenant lease transaction for West Bridgewater, Mass.-based supermarket chain Shaw’s Supermarkets, sources said. The transaction features a guarantee from the chain’s parent company, U.K.-based supermarket giant J. Sainsbury. Shaw’s operates about 185 stores under the Shaw’s and Star Markets banners in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.

Legg Mason is also set to close a $19.3 million credit tenant lease transaction for the U.S. General Services Administration.

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