Sat, Oct 19, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Low Income Investment Fund completes inaugural debt issuance at 10x oversubscribed

Thursday, August 01, 2019

Bailey McCann, Opalesque New York:

The Low Income Investment Fund (LIIF) has issued its first public debt offering with a $100 million Sustainability Bond issuance. The Community Development Financial Institution (CDFI) offering was ten times oversubscribed.

LIIF is a community development financial institution that is focused on community building initiatives including providing financing for low-income housing and other projects that may have high social value but limited capital raising prospects.

LIIF's issuance, which received an A- positive outlook rating from S&P and was led by Morgan Stanley as senior manager with JP Morgan Securities as co-manager. The offering attracted significant interest from global investors such as Nuveen, Neuberger Berman, and PIMCO. LIIF's issuance is the first CDFI bond issue to receive a second party opinion from Sustainalytics to further validate LIIF's Sustainability Bond Framework. This is also the first CDFI bond to align directly with the United Nations' Sustainable Development Goals.

"We think there is a small but growing market for CDFI bonds," said LIIF CEO Daniel A. Nissenbaum in an interview with Opalesque. "The interest in our offering shows that institutions are ready and willing to back CDFIs that come from firms with a respected track record."

Nissenbaum adds that the issuance broadens LIIF's investor base and helps to manage interest rate risk. The tenors in the offering go out over a ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. These hedge funds do better. So why can't they raise more money?[more]

    From Institutional Investor: It's an enduring paradox: hedge funds run by women and minorities outperform their peers - but run less money. Evidence continues to mount that the money investors allocate to minority- and women-controlled hedge funds stands a better than even chance of outperformi

  2. Tech: Quantum computing may be closer than expected with 'game changer' discovery[more]

    From Inverse: While quantum computing has long been an exciting notion for scientists and the public alike, the realization of these technologists has long been on hold. But researchers from the Johns Hopkins University have discovered a material that might just fast-track the creation of these, unt

  3. PE/VC: Private-equity deals depress worker wages, study finds, Thoma Bravo to buy Sophos for $3.9bn, Unicorn valuations are fit to burst, warn investors[more]

    Private-equity deals depress worker wages, study finds From Market Watch: Private-equity deals result in worse pay for workers, and, depending on whether the buyout target was public or not, fewer jobs, according to a newly published study. The study of some 6,000 private-equity de

  4. Tech: When AI invests in AI[more]

    From Forbes: The title of this article might sound farfetched to many readers, but keen students of artificial intelligence (AI) know that this is no longer very far away. Since the advent of computers, capital markets have always been at the forefront of technology. Yes, that's right. You may be wo

  5. Institutional investors in Canada, U.S., and the U.K are warming to responsible investing, says a survey[more]

    Laxman Pai, Opalesque Asia: The use of environmental, social and governance (ESG) principles by institutional investors in Canada, the US, and the UK is rising according to a new survey. RBC Global Asset Management (RBC GAM)'s annual survey on responsible investing trends found that more