Iowa SRF’s use of Green Bonds

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Presentation transcript:

Iowa SRF’s use of Green Bonds Lori Beary Iowa Finance Authority

Iowa SRF Green Bonds Iowa’s SRF has issued two Green Bond SRF issues February 2015 - $321,530,000 included $208 million of refunding October 2016 - $163,275,000

Iowa SRF Green Bonds “Green” because projects comply with Clean Water Act or Safe Drinking Water Act Projects: improve water quality protect the environment protect public health

Iowa SRF Green Bonds Two factors weighed our decision: Wanted to attract new investors Compliance/reporting couldn’t be too difficult

Iowa SRF Green Bonds Bond proceeds are used to reimburse for disbursements already made Information for OS was readily available List of projects that were funded Amount funded Description of project Total loan amount and % complete

Exhibit in Official Statement

Ongoing Compliance Annual Report prepared for EPA includes any reporting information: projects that have closed loans projects that have begun construction Projects that have completed construction

Other goal was to attract new investors Iowa SRF Green Bonds Other goal was to attract new investors 2015 bond issue had: 7 new buyers for 44.3 million 3 Green orders for $4.1 million