Green Bond Fact Sheet

This fact sheet details a USD 50 million green bond issued by the State of Nevada Department of Business and Industry on May 9, 2019, to fund a municipal solid waste to low carbon fuels biorefinery and a feedstock processing facility operated by Sierra BioFuels.

• The State of Nevada Department of Business and Industry issued a USD 50 million green bond on May 9, 2019, with a maturity date of February 15, 2038, and a tenor of 18.5 years.
• The bond proceeds are intended to loan funds to Fulcrum Sierra BioFuels, LLC for the acquisition, construction, improvement, development, equipping, and furnishing of a biorefinery that converts municipal solid waste into low carbon fuels, as well as improvements to a feedstock processing facility for sorting and processing municipal solid waste.
• The bond's use of proceeds is categorized under waste management, specifically waste to energy. The issuer will provide annual allocation reports and a voluntary impact report featuring quantitative indicators such as annual tonnage of municipal solid waste diverted from landfills, annual gallons of low carbon transportation fuel produced, and potential annual GHG emissions saved.
• The bond received a second party opinion from Sustainalytics, which the Climate Bonds Initiative notes is a rare level of transparency for US Municipal issuers.
• The bond was issued with a coupon of 5.750%, a yield of 5.749%, and a price of 100n%.

APA

Climate Bonds Initiative (2020). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2019-09_US_The_State_of_Nevada_Department_of_Business_and_Industry_Environmental_Improvement.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2020. https://www.climatebonds.net/files/drupal-files/files/2019-09_US_The_State_of_Nevada_Department_of_Business_and_Industry_Environmental_Improvement.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=2 November 2020 |url=https://www.climatebonds.net/files/drupal-files/files/2019-09_US_The_State_of_Nevada_Department_of_Business_and_Industry_Environmental_Improvement.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2020green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2020}, month = nov, url = {https://www.climatebonds.net/files/drupal-files/files/2019-09_US_The_State_of_Nevada_Department_of_Business_and_Industry_Environmental_Improvement.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }