Stanton supported the Low Income Investment Fund's successful closing of a $100M “sustainable bonds” offering announced July 31, which will support community development projects across the US.
Ten times oversubscribed, offering proceeds will be earmarked to refinance a host of affordable housing, education, health and community projects across the country.
The debt issue is the first nonprofit community development financial institution bond to align directly with the United Nations’ Sustainable Development Goals.
Since 1984, LIIF has invested more than $2.5B and leveraged over $12B in private capital to create “better places for families to live, work and thrive,” said Daniel Nissenbaum, CEO.
The latest offering marked a significant milestone for LIIF in accessing capital markets, according to Nissenbaum. “It broadens our investor base, helps manage interest rate rise and will enable LIIF to finance more critical community-serving projects,” he said.
The proceeds will create/preserve housing in low-income DC neighborhoods at risk of gentrification; housing/early childhood education and non-profit space in San Francisco’s Mission District; a federally qualified health center in New Orleans and mixed-use development (housing, grocery store/health center/retail) in the South Bronx.