Monarch Private Capital announced its inaugural $235 million social bond issuance. Proceeds of the Monarch Social Bond will be used to finance affordable housing projects to support the firm’s commitment to narrowing the affordable housing gap in the United States, Monarch said.
“Monarch’s social bond is a natural progression from our environmental, social and governance (ESG) funds,” said Ian Chomat, chief financial officer at Monarch. “Our experience and expertise in the affordable housing sector have led to the development of over 35,000 quality homes and created more than 100,000 jobs. The new social bond will help us continue to increase our positive impact on communities across the country.”
