Verizon Issues Its Sixth Green Bond Of $1 Billion

(CTN News) – It was announced today that Verizon Communications Inc. (NYSE, Nasdaq: VZ) completed the sale of its sixth green bond offering worth $1 billion, with the net proceeds expected to be entirely used to accelerate the transition to more eco-friendly electrical grids across the country.

As a follow up to Verizon’s announcement earlier this month, the company now announces that it has invested all of the net proceeds from its fifth green bond into renewable energy projects. There have now been six green bonds issued by Verizon since the year 2019 for a total of $6 billion.

According to Tony Skiadas, Verizon’s executive vice president and chief financial officer, Verizon closed the first U.S. telecom industry-wide green bond five years ago.

Since then, we have risen to become one of the U.S.’s leading corporate buyers of renewable energy,” said Skiadas. The steps we have taken to date toward our environmental and social impact goals are admirable, as we continue to be a leader in green finance and DEI in the capital markets, and I am proud of that.

With the inclusion of a pledge in its Green Financing Framework in 2021 to support diversity, equity, and inclusion in economic opportunities in capital markets, Verizon reaffirmed its commitment to fostering diversity, equity, and inclusion in its capital markets by engaging underwriters who share our commitment to sustainability and diversity of inclusion in its green bond transactions.

Based on these criteria, the company is pleased to announce that Loop Capital Markets, Ramirez & Co., Inc., and Siebert Williams Shank, Inc. will be underwriting its sixth green bond on behalf of Citigroup Inc., Morgan Stanley, and three minority and women-owned companies: Loop Capital Markets, Ramirez & Co., Inc., and Siebert Williams Shank Inc.

The five firms shared equally in the fees that were paid and the responsibility for making this offering available to the market.

By engaging in this capital market transaction, Verizon is aligning with its longstanding commitment to drive both environmental and social progress as part of its Citizen Verizon responsible business plan.

This transaction will enable Verizon to move forward with its mission to address pressing societal issues in order to move the world forward.

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