Low Income Investment completes $100 million sustainability bond

By Sarah Lizee

Olympia, Wash., July 31 – Low Income Investment Fund completed its inaugural public debt offering with a $100 million sustainability bond issuance.

The offering was 10 times oversubscribed, allowing Low Income Investment to obtain attractive pricing, demonstrating the growing demand for quality investments that support social and environmental impact, according to a press release.

The issuance, which received an A- rating from S&P Global Ratings and was led by Morgan Stanley as senior manager with J.P. Morgan Securities LLC as co-manager, attracted significant interest from global investors such as Nuveen, Neuberger Berman and Pimco.

The offering included seven-year and 10-year bonds, which will be used to finance vital community development projects across the country.

The bonds will support Low Income Investment’s projects in Washington, D.C., that create and preserve affordable housing for low income residents in neighborhoods at risk of rapid gentrification.

They will also support affordable housing, early childhood education and nonprofit arts space in San Francisco’s Mission District; a federally qualified health center in New Orleans that will bring needed health services and community programing to the city; and a mixed-use development that provides residents of the South Bronx with access to a full-service grocery store, health center and retail.

San Francisco-based Low Income Investment Fund invests capital to support healthy families and communities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.