Continuing his commitment to provide additional transparency on Rhode Island's public finances, Treasurer Seth Magaziner today announced the launch of a new, dedicated information platform for bond investors at RhodeIslandBonds.com.
"Bonds are essential to finance projects that improve schools, transportation and other quality of life projects that are important for Rhode Island communities to grow, "said Treasurer Magaziner. "This new web portal offers a new, more transparent and user-friendly way to provide investors with information about State and municipal bond offerings."
With thousands of pages of data and documents, Rhode Island's new investor portal provides insight into the credit fundamentals behind the state's bond ratings. RhodeIslandBonds.com consolidates the State's credit data and documents, providing comprehensive, sortable and searchable financial information to institutional and retail bond investors, as well as credit ratings agencies.
The goal of the new investor portal is to attract more investors to Rhode Island's bond program, increasing the demand for bonds. A broader, more diversified pool of investors can help lower the cost of borrowing for public infrastructure and reduce the burden on Rhode Island taxpayers.
This launch is one in a series of steps that the Treasurer has taken to improve the State's position in the bond marketplace. In 2016, Treasurer Magaziner conducted the state's first competitive sale of tax-exempt bonds in nearly a decade, resulting in $2.7 million of net savings in debt service costs for Rhode Island taxpayers. In 2017, he released the most comprehensive Debt Affordability Study in the State's history, setting new debt affordability targets for the first time since 1999.
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Contact:
Evan England, Director of Communications (401) 222-2240 | (401) 439-2199 (mobile) evan.england@treasury.ri.gov