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Connecticut Green Bank

Issuer Type: State/Province

Series 2020 Bonds

S&P
A
Bryan Garcia

We appreciate your interest in Connecticut Green Bank's Green Liberty Bonds, which will support critical investment in clean energy and energy efficiency projects and infrastructure throughout the State.

To learn more about the Green Liberty Bonds, attend our upcoming webinar on Tuesday, July 7 at 7 pm (EST). Register here.

As part of the continued celebration of the 50th anniversary of Earth Day, the Connecticut Green Bank is launching a new program to increase and accelerate the flow of capital into markets that energize the green economy and extend the reach of its benefits to all of society - the Green Liberty Bond.  In order for us to confront climate change and provide all of society a healthier and more prosperous future, we need to enable and empower everyone to support our transition to a zero carbon economy – creating the sustainable future and modern infrastructure we want to see in our society.

With a goal of achieving another order of magnitude of investment in Connecticut’s green economy in order to confront climate change, we will need massive amounts of capital – from business, government, and families. Everyone needs to be involved to confront climate change and the Green Liberty Bond is one way to unite in support of our clean energy future!

Bryan Garcia, President and CEO

News & Highlights

June 30, 2020

News
Green Liberty Bond Offers New Opportunity for Individuals to Invest in Connecticut’s Green Energy Economy

To encourage Americans to be active in the global clean energy movement to confront climate change and to provide a way for Connecticut residents to strengthen their state’s green economy, the Connecticut Green Bank will be launching a new sub-category of green bonds – the Green Liberty Bond. Green Liberty Bonds are lower-dollar denomination bonds available to individual investors, the proceeds of which will be independently certified as financing projects with climate and environmental benefits.

It is anticipated that retail investors will be able to place orders for the initial $16 million Green Liberty Bonds on or about July 14, 2020, with institutional investors able to place orders on the following day.

“We wanted to create a financial instrument that allows Americans to invest in the climate economy and the future they want to see,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “Through Green Liberty Bonds, residents can save for themselves and their families while supporting clean energy projects here in Connecticut that confront climate change. We envision a world empowered by the renewable energy of community, and by providing this investment opportunity in honor of the 50th anniversary of Earth Day, we are aligning investors with that vision.”

Modeled after the World War II Series-E bonds, which were purchased by more than 80 million Americans, Green Liberty Bonds are an opportunity for investors to take on the shared challenge of climate change through the purchase of bonds.

To launch the Green Liberty Bonds, the Green Bank is working with Ramirez & Co., Inc. as lead underwriter, Stifel, Nicolaus & Company, Inc. as co-underwriter, Shipman & Goodwin LLP as bond counsel, Lamont Financial Services Corporation as financial advisor, and Bank of New York Mellon Trust Company, N.A. as trustee.

The Green Liberty Bonds are expected to be labeled “Certified Climate Bonds” by the Climate Bonds Initiative, and compliance of the bond’s issuance with the Climate Bonds Standards will be verified by Kestrel Verifiers.

“We are excited to be part of the issuance of this new type of green bond with a focus on bringing retail investors to the table,” said Brad Friedman, Senior Vice President, Ramirez & Co., Inc. 

While the Green Liberty Bond will be a new offering for the Connecticut Green Bank, the organization has previously issued three privately placed bonds, and the 2019 bond was recognized by Environmental Finance for innovative green bond of the year and green bond asset backed security of the year.

To help inform residents about the Green Bank’s mission and programs, including the Green Liberty Bond, Green Bank Board of Directors Chairwoman Lonnie Reed and Bryan Garcia will host two informational webinars: one on Thursday, July 2 from 12 – 1 pm, and one on Tuesday, July 7 from 7 – 8 pm. The Preliminary Official Statement, notifications and webinar registration information can be found at www.greenlibertybonds.com.

Disclaimer

This press release does not constitute a recommendation or an offer or solicitation for the purchase or sale of any security or other financial instrument, including the initial Green Liberty Bonds, or to adopt any investment strategy. Any offer or solicitation with respect to the initial Green Liberty Bonds will be made solely by means of the Preliminary Official Statement and Official Statement, which will describe the actual terms and conditions of the Green Liberty Bonds. The information provided is subject in all respects to the information presented in the complete Preliminary Official Statement prepared in connection with the initial Green Liberty Bonds. Any investment decisions regarding any of the Green Liberty Bonds should only be made after a careful review of the complete Preliminary Official Statement.

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April 23, 2020

News
The Bond Buyer podcast features CT Green Bank's Green Liberty Bond

April 23, 2020 - The Bond Buyer recently interviewed Connecticut Green Bank President and CEO Bryan Garcia and Managing Director of Operations Eric Shrago about Green Liberty Bonds and the role this new subcategory of bond will play in expanding clean energy investment. These small-denomination retail-investor focused municipal bonds are modeled after the World War II Series E bonds, and the proceeds are independently certified to confront climate change.

Listen to The Bond Buyer podcast here.

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March 30, 2020

News
Connecticut Green Bank wins two awards from Environmental Finance for green bond issuance

When Environmental Finance’s 2020 Bond Awards winners were announced earlier this week, the Connecticut Green Bank was recognized with two honors:  the Award for Innovation – Green Bond Structure and the Award for Asset-Backed or Asset-Based Bond. These awards highlight the innovation and success of the Green Bank’s April 2019 $38.6 million in green asset backed securities, which was its first rated debt issuance, and the first ever solar asset-backed security (ABS) transaction by a green bank. The awards were judged by an independent panel comprising of 30 of the world’s largest green, social and sustainability bond investors.

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