By Staff Reports
(HONOLULU) –Building on the success of the past three years, the Department of Environmental Services (ENV) will once again offer Wastewater System Revenue Bonds Senior Series 2025B (Green Bonds) in September 2025. ENV aims to raise approximately $223 million from this sale, with proceeds earmarked for environmentally focused projects that enhance O‘ahu’s wastewater collection and treatment infrastructure.
Green Bonds are a unique investment vehicle, funding projects that promote sustainability and ecological well-being. They offer investors a meaningful opportunity to contribute to significant environmental improvements.
“We are excited to build on the momentum of past years’ successful Green Bonds sale,” said ENV Director Roger Babcock. “The 2025B Series Bonds, once again designated as ‘Green Bonds,’ underscore ENV’s commitment to sustainable development through innovation that prioritizes environmental stewardship.”
Ahead of this sale, Fitch Ratings, Inc. and S&P Global Ratings reaffirmed their ratings of ENV’s wastewater program at “AA” and “AA+,” respectively. Additionally, Fitch upgraded ENV’s financial Outlook to “Positive,” highlighting ENV’s strong financial position, dependable sewer fee revenues, and efficient operations. The agency also noted that ENV continues to meet all federal consent decree requirements, including completing major wastewater projects on schedule. Bank of America Securities will serve as the lead underwriter for the upcoming bond sale, with Morgan Stanley, Raymond James and Stifel as co-underwriters.