May 12 (Renewables Now) - US financial services giant Citigroup Inc (NYSE:C) has launched a USD-1.5-billion (EUR 1.39bn) offering of green bonds to finance renewable energy and energy efficiency projects, among others.
This is the company’s first USD-denominated benchmark green bond and follows a similar issue of Euro-denominated green securities in January 2019 that provided it with EUR 1 billion. Funds from the latest placement will help Citi finance, apart from renewables, environmental projects involving water quality and conservation, green buildings and sustainable transportation, it said on Tuesday.
The USD-1.5-billion non-call three fixed to floating rate notes mature in four years.
The two green bond offerings in public benchmark format align with Citi’s environmental finance goal as part of which it committed to lend and facilitate USD 100 billion over 10 years towards environmental activities that speed up the transition towards a low-carbon economy. That target was exceeded last year, four years ahead of schedule.
(USD 1.0 = EUR 0.924)