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MA to Issue AA+ $100m of Green Bonds on June 4

The State of Massachusetts announced that on June 4, 2013, it will issue $100 million of Green General Obligation Bonds (“GO Green Bonds”) underwritten by Bank of America Merrill Lynch.

The proceeds from the sale of the GO Green Bonds will be used to raise capital for four categories of “environmentally beneficial” projects:

  • Clean Water and Drinking Water Projects;
  • Energy Efficiency and Conservation Projects in State Buildings;
  • Land Acquisition, Open Space Protection and Environmental Remediation Projects; and
  • River Revitalization and Preservation and Habitat Restoration Projects.

Massachusetts will also be issuing $375 million of General Obligation (GO) bonds and refunding $640 million in Series B GO bonds -- totaling $1.115 billion set for sale on June 4, 2013.

The bonds have been rated AA+ by Fitch, Aa1 by Moody’s, and AA+ Standard & Poors.

For more information, see the Massachusetts Investor web site.

 

 

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