Wastewater System Investments

Green Bonds are once again at the forefront of Honolulu’s environmental financing, as the Department of Environmental Services (ENV) prepares to issue approximately $223 million in Wastewater System Revenue Bonds Senior Series 2025B this September. The proceeds will fund critical projects that modernize O‘ahu’s wastewater collection and treatment systems while promoting long-term ecological resilience.

These Green Bonds highlight Honolulu’s ongoing commitment to sustainable infrastructure, providing investors with an opportunity to support environmentally meaningful initiatives. Fitch Ratings and S&P Global Ratings reaffirmed ENV’s strong AA and AA+ credit standings, with Fitch upgrading the outlook to 'Positive.' The strong ratings underscore ENV’s dependable revenues, efficient operations, and consistent delivery on federal consent decree requirements. Bank of America Securities will lead underwriting, joined by Morgan Stanley, Raymond James, and Stifel.

Honolulu’s latest Green Bonds offering signals investor confidence in environmentally aligned municipal financing. By maintaining high credit ratings and aligning debt instruments with sustainability, the city not only attracts capital but also strengthens its reputation as a leader in green infrastructure.