Press Release

Press Release Treasurer Goldberg Announces Sale Results of Commonwealth Green Bonds

Deal Will Generate Proceeds That Will Fund Water Infrastructure Projects Throughout Massachusetts
For immediate release:
4/10/2017
  • Office of State Treasurer and Receiver General Deborah B. Goldberg
  • Massachusetts Clean Water Trust — MCWT

Media Contact

Chandra Allard, Director of Communications

Boston — The State Treasurer’s Office announced today that the Commonwealth and the Massachusetts Clean Water Trust have successfully completed the sale of more than $1 billion in a mix of new money, green, and refunding bonds.

Both transactions saw strong retail investor demand. The Massachusetts Clean Water Trust’s original two-day order period was accelerated, and all bonds were sold on the first day. Receiving significantly more orders than available bonds, the Trust adjusted its final pricing, which resulted in lowered borrowing costs for the Trust.

Additionally, the Massachusetts Clean Water Trust’s refunding of just under $100 million will generate budgetary savings of nearly $8 million. These savings will allow the Trust to invest in additional water infrastructure projects around the Commonwealth. Separately, the Commonwealth’s refunding of approximately $270 million is expected to generate $22 million in debt service savings for taxpayers.

The Commonwealth’s transaction marks the fourth time it has issued green bonds since it became the nation’s first issuer of municipal green bonds in 2013. This transaction also marks the third time the Massachusetts Clean Water Trust has issued Green bonds.

The Trust’s deal was led by Bank of America Merrill Lynch, while the Commonwealth’s transaction was led by Citi Bank.

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Media Contact

Office of State Treasurer and Receiver General Deborah B. Goldberg 

Our mission at the Office of the State Treasurer and Receiver General of Massachusetts is to prudently manage and safeguard the state's public deposits and investments through sound business practices for the exclusive benefits of our citizens, and perform these duties with integrity, excellence, and leadership.

Massachusetts Clean Water Trust — MCWT 

The Massachusetts Clean Water Trust (MCWT) is an independent agency that improves water quality throughout the Commonwealth by providing low-interest loans to municipalities and other eligible entities.

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