NewCold Advanced Cold Logistics’s $100 Million Loan


Ballard Spahr 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.

Ballard Spahr advised Zions Bank with a team including Darin Lowder (Picture) and Annie Tsai.

Involved fees earner: Darin Lowder – Ballard Spahr Stillman & Friedman LLP; Annie Tsai – Ballard Spahr Stillman & Friedman LLP;

Law Firms: Ballard Spahr Stillman & Friedman LLP;

Clients: Zions Bancorporation;

Author: Ambrogio Visconti