The New Jersey Infrastructure Bank has launched a new investor relations platform in advance of its bond sale Tuesday.
The
“We wanted the investor platform in place as part of the launch of our new website,” said NJIB CFO Lauren Kaltman. “This also provides us a new means of marketing.”
The NJIB rolled out the platform, which is supplied by Boston-based BondLink, prior to selling $21.86 million of green bonds in a competitive deal set for Tuesday. The transaction is slated to include $13.22 million in series 2019A-1 tax-exempt bonds, $4.64 million of 2019B-R1 tax-exempt bonds and $4 million of 2019C-R1 federally taxable refunding bonds. Kaltman said the series 2019A-1 bonds will finance improvements to wastewater treatment and drinking water supply systems for 14 New Jersey localities.
"Our strategic approach to investor relations will save investors time by delivering continuing disclosure and transparency through one, easy-to-use digital location and hopefully help further differentiate us from other state infrastructure bank issuers in the marketplace,” NJIB executive director David Zimmer said in a statement.
NJIB’s outstanding bonds are rated triple-A by Moody’s Investor Service, Fitch Ratings and S&P Global Ratings. The I-Bank has more than 80 short-term construction and disaster loans for community improvement projects outstanding. The authority, which was founded in 1985, was formerly called the New Jersey Environmental Infrastructure Trust and before that, the New Jersey Wastewater Treatment Trust.
"We’re extremely proud to partner with NJIB," MacNaught, a former Massachusetts assistant treasurer for debt management, said in a statement. "Sophisticated issuers like NJIB understand a commitment to transparency and ongoing disclosure can increase demand, optimize long-term relationships with the buy-side, and help improve bond pricing."
