BART issues bonds to fund rail infrastructure improvements

The estimated $700 million of proceeds from the bond sale will go toward rail infrastructure improvements.Photo – BART Facebook

Bay Area Rapid Transit (BART) today began offering its fifth green bond issuance to further rebuild projects across its rail system. 

The estimated $700 million of proceeds from the bond sale will go toward track replacement, tunnel repair, station improvements and train-control system upgrades of the San Francisco-based system, BART officials said in a press release.

Green bonds — also known as climate bonds— were popularized in 2010 as a method for raising capital for climate-friendly projects across the globe.