California Launches Bond Website
State Treasurer John Chiang has launched a new effort to generate increased investments in California bonds through greater transparency and more competition.
The new BuyCaliforniaBonds.com website offers greater efficiency and transparency to investors looking to invest confidently as they support California infrastructure projects.
The launch of the website coincides with the start of the 2018 bond sale season. The first offering utilizing the new BuyCaliforniaBonds.com website will be Feburary 22 when the iBank begins its sale of green revenue bonds for clean water projects.
“I am on a mission to make California government more transparent, accountable and responsive to the needs of the public through technological innovation,” said Treasurer Chiang. “By making the ‘what, when and why’s’ about the state’s finances, debt, and economic outlook available with a simple mouse click, I hope to entice more investors to finance projects of critical importance to our state, from transportation and clean water to schools and affordable housing.”
The new web portal is a gateway to thousands of pages of financial data and documents about the state’s bond sales. Individual investors and institutional investors will find the site rewardingly simple to use. New features include:
A streamlined homepage that makes it easier to locate the website’s most viewed information.
Numerous investor resources, including financial documents and reports, bond ratings, bond sale information, frequently asked questions, contact information, and more.
The ability to receive notifications about upcoming bond sales and whenever new documents are posted.
“More data that is easy to access and slice-and-dice will translate into more investor interest. More investors mean more competition and – ultimately – better deals for California taxpayers,” said Chiang.
During 2017, the State Treasurer’s Office sold more than $8.8 billion in general obligation bonds, $877 million in lease revenue bonds and $5.1 billion in revenue bonds for state agencies and universities. Since Treasurer Chiang took office in January 2015, refunding has resulted in approximately $6.4 billion in public savings over the remaining life of the bonds.
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