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New Jersey Resources to sell $150M of green bonds

New Jersey Resources Corp. will sell $150 million of green bonds in what will be its first such issuance.

The company sold $50 million of the bonds July 17 and will sell the remaining $100 million on or around Aug. 15, according to an Aug. 5 news release. The 10-year bonds bear an annual fixed rate of 3.29%.

Net proceeds from the offering will be allotted for New Jersey Resources' fiscal 2019 clean energy investments, including six commercial solar installations for a total of 50 MW.

New Jersey Resources serves over 525,000 natural gas utility customers in New Jersey through its utility subsidiary, New Jersey Natural Gas Co.