Similar pooled structures have been used successfully in other states, as well as in Indiana for the State’s SRF program. The Bond Bank’s adoption of this tool reflects a thoughtful adaptation of proven models to meet the needs of Hoosier communities.
“This transaction demonstrates our continued commitment to finding smarter, more efficient ways to support Hoosier communities,” said Indiana State Treasurer Daniel Elliott, Chair of the Indiana Bond Bank Board. “By pooling resources and lowering borrowing costs, we’re helping local governments focus their limited budgets on essential services and infrastructure that directly benefit their residents and taxpayers.”
The senior-lien bonds received an AA+ rating from S&P Global Ratings, reflecting the strong credit quality of the program and investor confidence in Indiana’s financial stewardship. The subordinate-lien bonds were non-rated and sold via private placement.
“We’re proud to bring forward a transaction that continues our mission to expand affordable capital access for Indiana communities,” said Jacob Blasdel, Executive Director of the Indiana Bond Bank. “This structure not only supports today’s refinancing but establishes a scalable model for future local investment.”
What the transaction delivers:
· Furthers the CFR Program which delivers lower overall costs for participating communities through pooled financing
· Sustainable long-term model that keeps funding accessible and affordable for future participants
· Broader access to capital, especially for smaller or rural units that benefit from the Bond Bank’s scale and credit strength
About the Indiana Bond Bank
The Indiana Bond Bank (IBB) was established as a self-supporting quasi-government entity by the Legislature in 1984. A seven-member board oversees the Bond Bank, with the Treasurer serving as the chair of the board, the Public Finance Director of the Indiana Finance Authority is statutorily appointed, with the remaining five members being appointed by the Governor. The Bond Bank assists local governments in the process of issuing debt and provides the following programs: the Advance Funding Program, Community Funding Resource Program, Hoosier Equipment Lease Purchase (HELP) Program, Fuel Budgeting Program, and Interim Loan Program. For more information, visit www.inbondbank.com.