TfL’s Green Bond, so more New Routemasters?
Taking a look at the 1 st July TFL ’ s Commissioner ’ s report, I can reveal that TFL has issued a £ 400 million ‘ Green Bond ’ fund on 17 th April 2015. From the 1st July 2015 Commissioners report Green Bond On 17 April we successfully issued a £ 400m Green Bond for 10 years following a series of meetings with investors. The proceeds of the Green Bond will be allocated to projects from five different programmes with various environmental benefits , such as reduced carbon emissions, improved air quality, noise mitigation and others . The project categories include capacity improvements and station upgrades on Rail and Underground, New Routemaster buses and cycling infrastructure . The yield on the bond, which compares favourably to the equivalent fixed rate for 10 years borrowing from the Public Works Loan Board, provides a saving of £ 13m over the 10-year term of the bond . So basica...