Green Bond Bandwagon Promises Cash Returns For NYC
Law360, New York (September 29, 2014, 5:12 PM EDT) -- A New York City proposal to market billions in so-called green bonds could reduce debt costs for the city by enticing investors who have stampeded toward guilt-free returns elsewhere, but buyers must tread carefully lest their money ends up funding projects not seen as environmentally relevant.
New York City Comptroller Scott M. Stringer put forth a plan last week that would see the city's capital spending program add municipal bonds for financing environmentally friendly projects to its plans to issue $30 billion in new debt over four years.
The proposal, which Mayor Bill de Blasio's administration is studying, suggests moving quickly while...
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