California Infrastructure to sell $272.61 million green revenue bonds

By Sarah Lizee

Olympia, Wash., Dec. 5 – California Infrastructure and Economic Development Bank (IBank) is pricing $272,605,000 in certified green lease revenue bonds due 2049 (A1/A+/AA) for the benefit of the California Teachers' Retirement System (CalSTRS), according to a press release.

IBank will deliver the tax-exempt fixed-rate bonds to CalSTRS to fund construction of the CalSTRS' Phase II headquarters building in West Sacramento.

“It made sense to finance the project with green bonds, as the structure will be one of the most sustainable facilities in northern California,” CalSTRS chief executive officer Jack Ehnes said in the release.

The headquarters project is designed to achieve several environmental certifications and will include onsite renewable energy.

The senior manager on the sale was RBC Capital Markets, and the co-senior manager was Great Pacific Securities.

The California State Treasurer's office is the agent for sale of the revenue bonds on behalf of CalSTRS.

© 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.