Commercial, Finance, Sourcing Renewables - May 11, 2023
Verizon Issues Fifth $1 Billion Green Bond
Verizon Communications Inc. settled its fifth green bond offering of $1 billion with proceeds going toward renewable energy investments.
In February, Verizon announced it allocated the proceeds of its fourth green bond also for renewable energy investments. Since 2019, Verizon has issued five green bonds totaling $5 billion.
“I believe our actions speak louder than our words, and I am proud of the steps Verizon has taken towards our ambitious environmental and social impact goals,” said Tony Skiadas, Verizon’s executive vice president and chief financial officer, in a statement. “As one of the largest corporate green bond issuers in the U.S., and as a leader in green finance and diversity in the capital markets with our Green Financing Framework, we are proud that our actions are contributing to greener power grids across the nation.”
In 2021, Verizon pledged in its Green Financing Framework to only engage underwriters for its green bond transactions that have established clear and impactful commitments in support of the U.N. Sustainable Development Goals (SDGs) and/or are a diverse-owned firm or have a core mission of promoting diversity, equity and inclusion. For its fifth green bond, the company partnered with Wells Fargo Securities and four minority- and women-owned firms as lead underwriters: CastleOak Securities, L.P.; Loop Capital Markets; Ramirez & Co., Inc.; and Siebert Williams Shank.
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