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NEW JERSEY INFRASTRUCTURE BANK ANNOUNCES DETAILS OF ITS UPCOMING GREEN BOND SALE
The New Jersey Infrastructure Bank announced the details of its upcoming bond sale. Subject to market conditions, the Infrastructure Bank plans to sell $34.655 million of tax-exempt Green Bonds by competitive sale on Thursday, April 23, 2020. The bonds will be sold via competitive sale electronically via the PARITY Electronic Bid Submission System of i-Deal LLC.
This is the I-Bank’s 15th series of Green Bonds issued to fund environmental infrastructure projects protecting the State’s water resources. Proceeds of the Aaa/AAA/AAA rated Bonds along with an additional $143 million funding from the State totaling consisting of approximately $129.3 million in interest-free loans and $13.7 million of principal forgiveness will fund 36 projects for 25 borrowers. The projects address needed environmental improvements to both Drinking Water and Clean Water in New Jersey.
A Preliminary Official Statement and Notice of Sale have been released and are available on this site.