Last May, Reinvestment Fund announced a $50 million public bond offering to further its mission to build wealth and opportunity for low-income places and people. The bonds were rated AA- by S&P and represent one of the first examples of connecting CDFIs to mainstream capital markets. Demand for these bonds far exceeded expectations and the offering was oversubscribed. It was a testament to the demand among institutional investors for viable options to channel their capital towards impact, while also receiving market-rate returns.
Read More