Equitable Facilities Fund issues $204 million verified social bonds

By Sarah Lizee

Olympia, Wash., Aug. 27 – Equitable Facilities Fund announced the issuance of $204 million verified social bonds issued by Equitable School Revolving Fund for primary and secondary education in the United States.

Over $200 million in proceeds will be used to offer low-cost, long-term, fixed-rate loans to high-performing public charter schools in predominantly low-income communities, according to a press release.

The offering saw high investor demand and was eight times oversubscribed with over $1.2 billion in orders from 33 investors.

Equitable Facilities is a nonprofit social impact fund based in New York.

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