ARLINGTON, Va., Sept. 3, 2019 /PRNewswire/ -- The Conservation Fund (TCF) announced today that it is commencing an offering of taxable Green Bonds (the "Bonds") of approximately $100 to $150 million. The Bonds will be issued by TCF and Sustainable Conservation, Inc., a wholly-owned subsidiary as co-issuer (SCI and, together with TCF, "The Fund"). Proceeds from the offering will be used primarily to increase the scale of its "Working Forest Fund®" conservation initiative, dedicated to mitigating climate change, strengthening rural economies and protecting natural ecosystems by the permanent conservation of at-risk forest landscapes. Goldman Sachs & Co. LLC is serving as sole underwriter of the bond.
"The bond proceeds, combined with significant new philanthropic capital, will allow us to accelerate our efforts to conserve America's essential working forests," said Larry Selzer, CEO of The Conservation Fund. "By combining the power of the marketplace with the passion of philanthropy we aim to make a real difference in our nation's efforts to protect forests, address climate change and lift up rural economies."
"The Conservation Fund's Green Bond Framework is credible and impactful, and it aligns with the major components of the Green Bond Principles," said Heather Lang, Executive Director of Sustainalytics' Sustainable Finance Solutions. "Through its use of green bond proceeds, the Fund is demonstrating a deep commitment to conserve lands and working forests, creating significant environmental benefits."
TCF, a nonprofit organization, was founded in 1985 and is headquartered in Arlington, VA. Working with public, private and nonprofit partners, TCF's mission is to protect America's legacy of land and water resources through land acquisition, community engagement, and sustainable economic development, emphasizing the integration of economic and environmental goals.
For information, please contact:
John Gilbert, Executive Vice President and Chief Financial Officer
The offering is being made pursuant to a preliminary offering memorandum. Potential investors should read the entirety of the preliminary offering memorandum as a basis for making any investment decision with respect to the Bonds.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor will there be any sales of the Bonds in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This release may contain statements about future events and expectations that are forward-looking statements. Such statements are generally identifiable by the terminology used such as "plan," "expect," "estimate," "budget," "intend," "projection" or other similar words. A number of important factors, including factors affecting the Fund's operations and financial condition, could cause actual results to differ materially from those stated in such forward-looking statements.
All forward-looking statements speak only as of the date of this press release even if subsequently made available by the Fund on its website or otherwise. The Fund disclaims any obligation to update or revise any forward-looking statements that may be made to reflect new information or future events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, other than as required by law.
SOURCE The Conservation Fund