Chicago, Feb. 10 – National Community Renaissance of California (National CORE) (A+) closed on $100 million in taxable bonds, series 2022, according to a press release.
The social bonds, due 2032, mark the second time bonds have been made available by a non-profit affordable housing developer in the United States.
Morgan Stanley was listed as the underwriter.
Proceeds will be used to finance the acquisition, development and preservation of high-quality affordable multifamily housing.
National CORE is a developer and provider of affordable housing based in Rancho Cucamonga, Calif.
| Issuer: | National Community Renaissance of California
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| Amount: | $100 million
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| Issue: | Taxable social bonds, series 2022
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| Maturity: | 2032
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| Bookrunners: | Morgan Stanley
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| Settlement date: | Feb. 9
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| Issuer rating: | S&P: A+
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