The issuance of
DC Water and Sewer Authority's 100 year maturity green bond
has signaled the market’s increasing appetite for
|Design for DC
Water and Sewer, combine overflow system
The $350 million bond was issued on July 10. The proceeds
will go to the construction of a new waste water overflow
system which is expected to last for almost 100 years.
It is the
first green bond to achieve such a long tenure. Unlike
other green bonds, the DC Water issuance had the added
guarantee of being issued by a municipal agency with a high
Extending the payments over such a long period of time
allows the bonds to more closely match the life of the project
and reduce the cost for the tax payers, who will fund the
"If a utility issues 30-year bonds, the...