Community Preservation Corp.’s $150 million Bond Sale to Spark Multifamily Construction – Bond Buyer

Bill Thompson Jr., a Siebert Williams Shank senior managing director and chief administrative officer
Bill Thompson Jr., a Siebert Williams Shank senior managing director and chief administrative officer, and a former New York City comptroller, called the market’s reception “a direct result of years of serious and effective stewardship by CPC’s leadership.”
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By Paul Burton

The Community Preservation Corp.’s $150 million inaugural sustainability public debt offering marked the single largest bond sale completed by a community development financial institution, the corporation said.

New York-based CPC’s taxable offering attracted roughly $300 million in orders.

Siebert Williams Shank’s Bill Thompson Jr. called the deal’s market reception “a direct result of years of serious and effective stewardship by CPC’s leadership.”

The firm, one of the largest CDFIs dedicated to multifamily housing, expects to use the capital raised to bolster affordable and sustainable multifamily housing in New York State and City, and throughout the Northeast.

Goldman Sachs led the Jan. 30 negotiated issuance with joint bookrunner Siebert Williams Shank, the nation’s leading woman-owned and minority-owned financial services firm.

S&P Global Ratings assigned its AA-minus rating and …