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June 3, 2019

Maine Treasurer launches investor-relations site to attract more bond investors

Maine Treasurer Henry Beck
Courtesy / Maine Treasurer's Office
Maine State Treasurer Henry Beck

In advance of the upcoming $161.1 million state bond sale, Maine Treasurer Henry Beck launched an initiative on Monday that’s aimed at attracting more investors to the state’s municipal bond offerings. It’s a new corporate-style investor-relations site at that provides a single location for investors to access information about the state’s credit fundamentals.

With a retail order period on June 10, followed by an institutional order period on June 11,  the state expects to sell taxable and tax-exempt general obligation bonds
to fund $161.1 million of projects. The bonds will have a 10-year final maturity. 

The state is currently rated AA by S&P Global Ratings and Aa2 by Moody’s Investors Service Inc.

“With hundreds of municipal bond sales each week, we know investors have a choice about where to invest,” Beck said. “It’s our fiduciary responsibility to raise capital at the lowest possible cost and our strategic approach to investor relations will help further differentiate us from other issuers in the marketplace.”

Beck said regulators recommend a strong investor relations program for issuers, adding that academic research also shows improved disclosure leads to lower borrowing costs.

“We’re extremely proud to partner with the State of Maine,” said Colin MacNaught, co-founder and CEO of BondLink, which powers the state’s investor relations site. “Sophisticated issuers like Maine understand a commitment to transparency and ongoing disclosure can increase demand, optimize long-term relationships with the buy-side, and help improve bond pricing.”

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