Atlanta and Baltimore prep pay-for-results green bonds
The US cities of Atlanta and Baltimore are preparing to issue innovative impact bonds to finance construction of new green infrastructure, such as parks, to soak up floodwater. The deals will pay investors extra if the infrastructure performs better than expected.
Atlanta is raising $13m with a 30 year bond to be closed at the end of January, while Baltimore’s deal of $6m is expected to come in March.They follow a $25m transaction structured in September 2016 for the water department of Washington DC by the same boutique ...
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