Bank of America issues 5th green bond

Bank of America Corporation has issued its fifth corporate green bond for $2bn, with proceeds to be targeted to support projects focused on affordable, clean energy in support of the United Nations Sustainable Development Goals (SDGs).

”At Bank of America, our focus on sustainable finance helps to advance the SDGs, specifically in this case to increase the scale and impact of clean energy projects across the globe,” said Anne Finucane, vice chairman at Bank of America. “By addressing the SDGs through ESG-linked securities like corporate green bonds, we are offering a way for fixed income investors to drive social and environmental change through the debt capital markets, and to be part of the solution to address climate change.”

The six-year corporate green bond, which is callable in five years, is the bank’s longest-dated corporate green bond issuance.

In total Bank of America’s green bonds have raised a total of $6.35bn for clean energy projects since 2013, starting with $500m in that year, $600m in 2015, $1bn in 2016, $2.25bn in 2018 and now a further $2bn. Additionally, since co-writing the original Green Bond Principles more than a decade ago, the company’s securities division has led more than 260 bond issuances, totalling approximately $43bn on behalf of 100-plus clients, providing critical funding to environmentally focused projects.

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