Be Climate Smart. Invest in BART Green Bonds.


Be Climate Smart. Invest in BART Green Bonds.

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BART is preparing its first-ever Green Bonds, certified by the Climate Bonds Initiative. BART plans to hold an early order period exclusively for individual investors on May 9, 2017. The Series 2017 Green Bonds are General Obligation Bonds secured by ad valorem property taxes collected in the three-county BART district.

This is not an offer to sell bonds or a solicitation of an offer to buy bonds. Investors must have access to the Official Statement for the bonds and have access to a brokerage account in order to purchase them.

The estimated $388 million of proceeds expected from the sale of these Green Bonds will be a significant investment in climate-friendly mass transportation for the Bay Area, funding continuing work on improving BART’s core infrastructure including track replacement, tunnel repair, station improvements and train control system upgrades to allow more safe, reliable and frequent service per Measure RR for the BART System Renewal Program as well as refinancing prior projects completed per Measure AA for the Earthquake Safety Program.  The bond issue meets the rigorous criteria established by the Climate Bonds Initiative relating to reporting and transparency, and will pay for projects that provide low-carbon transportation alternatives for Bay Area residents and reduce the impacts of climate change.

climate bond certified logoGreen Bonds (also known as Climate Bonds) were popularized in 2010 as a method for raising capital for climate-friendly projects across the globe. In 2016, $81 billion in Climate Bonds were issued worldwide according to the Climate Bonds Initiative, an international nongovernmental, nonprofit organization dedicated to stimulating investment in projects and assets supporting environmental sustainability. BART’s Series 2017 Green Bonds will be the first bond issuance to be certified in the western United States by a transit agency under the Climate Bonds Initiative’s Low Carbon Transport Standard.

 

To buy BART Green Bonds follow these simple steps:

Step 1 – Have a brokerage account.

  • You must have an account with one of the brokerage firms participating in the bond sale listed below. Bonds cannot be purchased directly from BART. If you do not have an account at one of the participating firms, you may open one and purchase bonds during the early order period (if you have a brokerage account, go to Step 2).
  • Investors are encouraged to begin the new account process well in advance of the sale. Depending on the brokerage, internal new account procedures may take some time to process.
  • Each firm has its own requirements for opening an account. BART does not endorse any particular brokerage firm. Additionally, BART does not guarantee that any one of these firms will open an account for an investor.

 

Step 2 - Learn about the bonds.

  • BART Green Bonds can only be offered through an Official Statement. Using the hyperlink below, download and read the Preliminary Official Statement to learn about the bonds, including their security, maturity dates, the types of projects they finance, and other information you may find important to help you make an informed investment decision. Again, neither this website nor the Official Statement is an offer to sell any bonds.

 

Step 3 - Place your order.

  • Contact the brokerage firm with whom you have an account to get more information about how to buy bonds during the May 9 early order period for individual investors.

 

Preliminary Offering Statement and Online Investor Presentation

Moody's Credit Report - BART

S&P Global Credit Report - BART

 

Contact Information for Participating Bond Underwriting Firms

 

Alamo Capital
800.645.5560
925.956.0127
Jerry Liang

Stifel
415.364.7803
888.708.1874
David Fleming

Backstrom McCarley Berry & Co. LLC
866.878.2622

J.P. Morgan
855.231.8873

Bank of America / Merrill Lynch
800.937.0616

Morgan Stanley
877.937.6739

Blaylock Van, LLC
510.208.6101

Raymond James
800.248.8863

Citigroup
855.644.7252

Siebert Cisneros Shank
800.334.6800

Fidelity
800.544.5372
www.fidelitycapitalmarkets.com

Goldman Sachs & Co. LLC
917.343.7900