New Jersey to Sell $350 Million in Self-Designated Social Bonds
- Proceeds from sale will finance school construction projects
- Document says state won’t provide social bond use updates
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New Jersey says it’s getting into the social-bond market.
The Garden State’s Economic Development Authority Thursday is selling $350 million of what officials have self-designated as social bonds through a negotiated offering managed by Loop Capital Markets. It’s the first social bond for the state, according to data compiled by Bloomberg.