U.S. Bancorp and Zions Bank Sign Renewable-Energy Tax-Equity Syndication
ST. LOUIS--(BUSINESS WIRE)--Jul. 31, 2015-- U.S. Bancorp (NYSE: USB) and Zions Bank(NYSE: ZION) announce a renewable-energy tax-equity syndication agreement that will provide financing for the Red Horse 2 wind and solar project near Tucson, Arizona, owned by an affiliate of D. E. Shaw Renewable Investments L.L.C.
U.S. Bancorp launched its new renewable-energy investment syndication earlier this year, allowing first-time and experienced investors to participate in the renewable-energy tax-equity market. With this agreement, Zions Bank is co-investing with U.S. Bancorp and benefitting from U.S. Bancorp’s underwriting, structuring, and ongoing asset management.