BART plans to issue 2020 general obligation green bonds


BART plans to issue 2020 general obligation green bonds

BART is preparing to offer its fifth Green Bond issuance, certified by the Climate Bonds Initiative, on August 18, 2020. During the order period, BART plans to give order priority to residents of the counties of Alameda and Contra Costa, and the City and County of San Francisco. The Series 2020 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 $700 million of proceeds from the sale of these Green Bonds represents a significant investment in climate-friendly mass transportation for the Bay Area. Bonds issued under Measure RR will go toward continued work on improving BART’s core infrastructure including track replacement, tunnel repair, station improvements and train control system upgrades. 

The bond issue meets the criteria established by the Climate Bonds Initiative relating to reporting and transparency and will finance projects that provide low-carbon transportation alternatives for Bay Area residents and reduce the impacts of climate change. Green Bonds (also known as Climate Bonds) were popularized in 2010 as a method for raising capital for climate-friendly projects across the globe. In 2019, $259 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. In 2017, BART was the first California transit agency to obtain third-party green bond certification.

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 August 18, 2020 order period.

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

J.P. Morgan
(855) 231-8873

Goldman Sachs & Co. LLC
(917) 343-7900

Blaylock Van, LLC
(510) 208-6101

(212) 528-1115

Wells Fargo Securities
(866) 287-3221