Environmental Finance's Bond Awards 2023

Lead manager of the year, green bonds - US muni bond; Lead manager of the year, social bonds bonds - US muni bond: Bank of America

In 2022, Bank of America (BofA) executed sustainable municipal transactions in 14 US states for 22 issuers across eight different municipal sectors, including airports, mass transportation, housing, pollution control/sanitation, and water and sewers.

Noteworthy issues on which it worked include the Department of Airports of The City of Los Angeles, a first-time issuer and winner of Green bond of the Year – US muni bond in this year's Bond Awards.

Another first-time issuer included Northern Virginia Transportation Commission Transportation District. A repeat issuer included the Triborough Bridge & Tunnel Authority, which issued the largest tax-exempt green bond in 2022, with BofA as bookrunner.

BofA was also active in the clean water sector, serving as the lead underwriter for clean water transactions in Massachusetts, Iowa, Florida, California and Hawaii.

Winning the category for Lead manager of the Year, social bonds - US muni bond as well, BofA's deal list includes housing issuers which cover 10 unique issuers across nine states for multi-family and single-family affordable housing transactions for state and city level issuers.

In addition, BofA was a joint bookrunner on the Commonwealth of Massachusetts social bond, which was the largest labelled municipal ESG financing in the US to-date, largest municipal social bond, largest financing sold by the Commonwealth or any other state-level entity in Massachusetts, and the first of its kind social bond to address unemployment insurance financing to address costs arising from the Covid-19 pandemic.

The issue also won awards for Initiative of the year – social bond and Social project bond of the year in this year's Bond Awards.