March 03, 2022

The Bond Buyer: University of Michigan’s $2.1B deal has its first green and century bonds

The Regents of the University of Michigan issued their first Green Bonds in March 2022. The University will use proceeds from the General Revenue Bonds (Taxable) (Green Bonds) to establish an innovative new energy revolving fund that will set aside funding for energy efficient projects presented by students and faculty, building projects anticipated to receive LEED Silver and LEED Platinum certifications, a geothermal heating system, and electric bus fleets, among other projects. The financed projects are a testament to the University’s commitment to sustainability and forward-thinking climate action.