網頁

Wednesday, November 26, 2014

CLEAN WATER TRUST ANNOUNCES FIRST “GREEN BOND” SALE

CLEAN WATER TRUST ANNOUNCES FIRST “GREEN BOND” SALE
Release of Preliminary Official Statement on Series 18 Green Bonds

Treasurer Steven Grossman today announced the release of the Preliminary Official Statement (POS) for the Massachusetts Clean Water Trust’s first “Green Bond” sale. These bonds will finance approximately $231,095,000* of water infrastructure projects in Massachusetts. The sale will occur during the week of December 8. 

“We’re thrilled to announce the release of information on the Trust’s first ‘Green Bond’ sale,” said Treasurer Grossman. “These bonds will offer investors an option that directly funds environmentally beneficial infrastructure projects right here in Massachusetts.”
“It is exciting that the Green Bond market has developed to support clean water infrastructure.  By providing investors with bonds that meet their investment goals, we are able to create new demand and reduce costs for Massachusetts taxpayers,” said Scott Jordan, Undersecretary for the Executive Office for Administration and Finance.

"I am pleased to present the POS for the Clean Water Trust's first Green Bond issue and our first issue under our new name,” said Sue Perez, Executive Director of the Trust. “This POS provides all the necessary information regarding the Series 18 bond issuance and demonstrates how these bonds qualify as ‘Green Bonds’."
Massachusetts became the first state in the country to offer Green Bonds in 2013, and this is the first time the Clean Water Trust has done such an issuance.  In addition to funding environmentally beneficial projects, Green Bonds appeal to a wider range of bidders, thereby increasing competition and potentially lowering borrowing costs for the Commonwealth.  State officials said the bonds are appealing to pension funds and endowments that are required or choose to dedicate a portion of their holdings to green initiatives, spurring interest among some large institutional investors that might not otherwise buy Massachusetts bonds. 

The Clean Water Trust is working with J.P. Morgan as lead managing underwriter of the Green Bonds.  J.P. Morgan is a leading expert in Green Bonds and one of the banks that drafted the Green Bond principles that serve as a guide for issuers and a standard for disclosure. 

Individual retail investors from Massachusetts will have the first opportunity to purchase these bonds that benefit Massachusetts communities on December 9. For further information on the “Green Bonds,” including the POS please visit www.mass.gov/treasury/affiliated-prog/wpat/bonds/.

The Clean Water Trust provides subsidized loans to cities and towns for clean water and drinking water infrastructure development.  Since its establishment in 1989, the Clean Water Trust has loaned over $6 billion to improve and maintain the quality of water in the Commonwealth.  An estimated 97 percent of Massachusetts’ citizens have benefited from the Clean Water Trust’s financial assistance.
*Preliminary, Subject to change 

No comments:

Post a Comment