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CULVER CITY, Calif., March 31, 2021 /PRNewswire/ — Century Housing’s 2020 Sustainability Bond, which raised $85 million to straight help high quality reasonably priced housing all through California, immediately obtained the Sustainability Bond of the 12 months Award from Environmental Finance within the US muni bond class. These Awards search to acknowledge these bonds that excel, innovate in and contribute to the profitable improvement of the marketplace for environmental bonds.
With its June 2020 bond providing, which was twelve occasions over-subscribed receiving extra than $1 billion in orders, Century Housing grew to become the primary Neighborhood Improvement Monetary Establishment (CDFI) to return to market with a municipal bond CUSIP. Century was additionally the primary CDFI to be rated by two main public credit standing businesses, Fitch and S&P (rated AA and AA-, respectively). The bond carried a second-party opinion by Sustainalytics testifying to each the environmental and social advantages of the housing created and preserved by this bond. Underwritten and marketed by Wells Fargo Securities as sole supervisor and provided by way of the California Municipal Finance Authority, the bond was California tax exempt and federally taxable.
Alan Hoffman, Senior Vice President and CFO of Century Housing, mentioned, “It’s heartening to see the overwhelming investor curiosity in reasonably priced housing, particularly at a time when the COVID pandemic exposes how susceptible our low-income households, seniors, and veterans actually are to the shortage of secure, safe, high quality housing. We’re honored that the Environmental Finance Bond Awards’ judges have acknowledged Century for its capacity to innovate and execute with this bond and hope that the award additionally displays our dedication to sustainable, energy-efficient reasonably priced housing in a time of large want.”
Century supplies financing for all phases within the improvement of reasonably priced housing together with acquisition, bridge, building and everlasting loans. For greater than 25 years, Century’s experience and fast, dependable execution have allowed reasonably priced housing builders to safe the financing they want, together with all-important early stage financing, permitting them to make the most of packages together with Low Earnings Housing Tax Credit and present COVID-related federal support like Undertaking Homekey.
About Century Housing
Century Housing Company is a mission-driven CDFI that funds high quality, reasonably priced housing all through California to offer dignified properties, wholesome and hopeful futures, and financial independence to the folks we serve. From our begin as a state company and thru our previous 25 years as a nonprofit public profit company, Century has invested greater than $2 billion to create and protect near 50,000 properties whereas creating 1000’s of building jobs. Century-financed developments showcase a singular legacy of serving our triple backside line: constructive monetary, social, and environmental outcomes supporting a extra simply and sustainable future within the locations the place assist is required most. Century Housing has workplaces in each northern and southern California. For more, visit www.century.org/invest.
SOURCE Century Housing
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