ILLINOIS HOUSING DEVELOPMENT AUTHORITY: Launches New Initiative to Attract Bond Investors in 2019
Illinois Housing Development Authority issued the following announcement on Feb. 8.
The Illinois Housing Development Authority (IHDA) launched a new initiative today aimed at attracting more investors to its municipal bond offerings.
IHDA introduced a new investor relations site providing access to over 1,000 pages of data and documents, providing a single location for investors to access their credit fundamentals: www.buyihdabonds.com.
"It's our fiduciary responsibility to raise capital at the lowest possible cost to taxpayers," said Audra Hamernik, IHDA's Executive Director. "With hundreds of municipal bond sales each week, we know investors have a choice as to where to invest. Our commitment to transparency and disclosure will enable IHDA to reach more investors and optimize long-term relationships with the buy-side, helping to better price our bonds. We are happy to announce that we will kick-off IHDA's investor platform with the release of a Preliminary Official Statement this week with respect to single-family bonds financing single-family mortgage-backed securities, the proceeds of which will be used to finance first time homebuyers across Illinois."
Regulators recommend a strong investor relations program for issuers. Academic research also shows improved disclosure leads to lower borrowing costs, which will improve IHDA's ability to finance affordable homeownership and rental opportunities throughout the state.
"We're extremely proud to partner with IHDA," said Colin MacNaught, co-founder and CEO of BondLink, which powers the state's investor relations site. "Sophisticated issuers like IHDA understand the edge of heightened transparency when selling bonds. We're excited to help drive additional investor demand for the state's bond programs, and those of its related agencies."
About the Illinois Housing Development Authority
IHDA (www.ihda.org) is a self-supporting state agency that finances the creation and the preservation of affordable housing across Illinois. Since its creation in 1967, IHDA has allocated over $18 billion and financed approximately 255,000 affordable housing units for residents of Illinois.
Led by founders Colin MacNaught, CEO, and Carl Query, CTO, BondLink's cloud-based IR platform provides efficiencies to issuers and investors in the $4 trillion municipal bond market. Since the launch of its first investor platform two years ago, BondLink has expanded its network across more than 25 states, as well as the District of Columbia and the U.S. Virgin Islands. Headquartered in Boston, BondLink is backed by top investors, including Franklin Templeton Investments, one of the largest municipal bond fund managers in the country. BondLink is also the founder of the world's first investor relations conference for the municipal bond industry. For more info, visit www.bondlink.com.
Original source can be found here.