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25th May 2018
Bank of America issues fourth and largest corporate green bond
Bank of America has issued its fourth and largest green bond for $2.25bn in aggregate principal amount, furthering the company’s commitment to deploying capital to advance sustainable projects. The bond’s proceeds will support increasing renewable energy generation.
With this offering, Bank of America becomes the first US financial institution to issue four corporate green bonds, raising a total of $4.35bn for renewable energy projects since 2013. The company has also been the leading underwriter of green bonds globally since 2007, underscoring its continued leadership in addressing climate change by financing the transition to a low-carbon, sustainable economy.
Bank of America Vice Chairman Anne Finucane said: “We are engaging every part of our company to address today’s biggest global challenges – including solutions to help transition to lower-carbon energy sources and address unsustainable demands on our natural resources.
"Green bonds are an important tool for the private sector to finance clean and alternative energy sources, as well as other environmentally-minded activities, at competitive market rates. We’ve seen tremendous demand in the debt capital markets, with all four of our green bonds significantly oversubscribed, and we are responding to that demand.”