Connecticut is serving up another batch of “green bonds,’’ this time $250 million worth to finance communities’ clean-water and drinking-water infrastructure projects statewide.
This round follows a $60 million bond issue last November for the same purpose that was part of a larger, $300 million general obligation bond sale, State Treasurer Denise L. Nappier said Wednesday.
The bonds are being offered to individual investors on a priority basis during a two-day retail order period, starting next Monday and Tuesday. The final pricing and sale is scheduled for April 22 – Earth Day.
On the clean-water side, proceeds will fund water pollution-control facility upgrades in Hartford, Bridgeport, Cheshire, Manchester, New Haven, Plymouth, and the Mattabassett District, serving Middletown and Cromwell, Nappier said. The facility upgrades will reduce nutrients, including nitrogen and phosphorus, that are discharged into the state’s rivers and ultimately Long Island Sound.
Drinking-water projects include new water main transmission lines and/or pump station upgrades in New London, Norwalk, and Norwich, as well as the upgrade of water treatment facilities in Meriden and West Hartford, she said.
Since their 1986 inception, the state’s Clean Water and Drinking Water Programs have made more than $3 billion in grant and loan commitments to more than 120 communities, including 18 municipalities that participate in regional districts or authorities, the treasurer said.
Nappier said the credit ratings on the bonds were affirmed by all three credit rating agencies with stable outlooks. The ratings are Aaa from Moody’s Investor Service and AAA for Standard & Poor’s and Fitch.
