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LA Metro Launches New Investor Relations Website
May 24, 2018
BondLink today announced that the Los Angeles County Metropolitan Transportation Authority (Metro) has launched a new website – MetroBonds.net – dedicated to continuing and improving its investor outreach by enhancing its financial disclosure. The new platform includes details on sales, credit ratings and investor resources.
“We remain committed to minimizing borrowing costs in our capital finance program,” Metro Treasurer Donna Mills said. “This new website will enhance our investor outreach, and improve our disclosure and transparency in the capital markets.”
The new investor platform is powered by BondLink, a Boston-based financial technology company that provides investor outreach solutions to issuers in the $4 trillion municipal bond market. BondLink currently powers investor engagement for issuers across the U.S., such as Boston, Chicago and the University of Texas. Metro joins a growing list of West Coast clients that includes the State of California, Port of Los Angeles and West Basin Municipal Water District.
“L.A. Metro is very focused on doing everything it can to make sure it finances rail projects and other transportation infrastructure enhancements as efficiently as possible," said Colin MacNaught, BondLink's co-founder and CEO. "That includes using new technology to make it easier for individual investors - including Metro riders - to participate in their bond sales. Given the size of its capital program, even a small increase in demand for the bonds could lower borrowing costs significantly.”
Metro’s investor outreach platform is designed to attract an even larger investor base for the issuer’s financing program. With more than 10,000 pages of data and documents, the site provides details on credit fundamentals, bond sales, financial updates and existing debt. The new platform makes the information easily accessible to bondholders and prospective investors, including large institutional buyers and smaller retail investors – such as California residents and Metro riders. By providing enhanced access to information, the new site can help drive demand for Metro’s bonds, which can help Metro access the capital markets more efficiently in the future.
Academic research published by the Brookings Institution draws a direct connection between improved disclosure and improved borrowing costs, which ultimately is the long-term goal of an investor outreach site. BondLink’s technology and tools facilitate Metro’s engagement with bondholders and potential investors, enhance its transparency to the market, and help broaden and diversify its investor pool. Additionally, using a dedicated investor website for disclosure also follows best practices from government finance organizations such as the Government Finance Officers Association.
Metro is unique among the nation’s transportation agencies, serving as transportation planner and coordinator, designer, builder and operator for the country’s most-populous county. More than 10 million people – over a quarter of the state’s population – live, work and play within the county.