Today, Reinvestment Fund, a national Community Development Financial Institution (CDFI) headquartered in Philadelphia with an office in Atlanta, announced the successful sale of nearly $70 million in general obligation bonds to buyers including six institutional investors and three individual investors. The bond will reach its final maturity in 2035. Reinvestment Fund engaged BofA Securities as the bond underwriter, and PNC and J.P. Morgan as co-managers.
The current bond issue is part of Reinvestment Fund’s continued strategy to raise and deploy capital in affordable housing, early childhood education and other projects that will strengthen the communities it serves. The bond comes at a moment when some are questioning CDFI’s ability to achieve their goals amid headwinds in the national marketplace.
“We are delighted with this execution. Particularly in this climate, the bond market emphatically voted in support of our mission, our management team, and our ability to responsibly raise and deploy capital into communities that need our support. We are excited about our next chapter, and the market clearly agrees with us,” said Tiffany Canady, Chief Financial Officer.
Reinvestment Fund has a strong reputation for responsibly and consistently managing its capital portfolio supporting communities from Philadelphia to Atlanta, and throughout the country.
“We are committed to using the best financial tools available to help make communities stronger, healthier and more equitable, and the funds from this bond issue will allow us to have an even greater impact with our projects for 2026 and beyond,” President and CEO Donald Hinkle-Brown said. “With the support of our bond investors we will have the resources to make even bolder investments in key strategic initiatives around the country.”
This bond issue comes as Reinvestment Fund maintains its AA– credit rating this year with Standard & Poor’s. Building on Reinvestment Fund’s 40 years of trusted financial stewardship and investment record, the new bond issue represents a major next step in expanding Reinvestment Fund’s capacity at a time when many CDFIs are facing unique financial and policy challenges.
To learn more about Reinvestment Fund, please visit: www.reinvestment.com.
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About Reinvestment Fund
Reinvestment Fund is a mission-driven financial institution committed to making communities work for all people. We bring financial and analytical tools to partnerships that work to ensure that people in communities across the country have the opportunities they strive for: affordable places to live, access to nutritious food and health care, schools where their children can flourish, and strong, local businesses that support jobs. We use data to understand markets and how transactions can have the most powerful impact, which has consistently earned us the top Aeris rating of AAA for financial strength and four stars for impact management. Our asset and risk management systems have also earned us an AA- rating from S&P. Since our inception in 1985, Reinvestment Fund has provided over $3.2 billion in financing to strengthen neighborhoods, scale social enterprises, and build resilient communities. Learn more at reinvestment.com.