Verizon issues fourth USD-1bn green bond to support renewables

Exterior of Verizon's Wall Street retail store. Source: Verizon.

March 3 (Renewables Now) - US wireless carrier Verizon Communications Inc (NYSE:VZ) has settled a green bond offering of USD 1 billion (EUR 891m), which is its fourth such issuance since 2014 for a cumulative USD 4 billion.

The company said in a statement that it will allocate the net proceeds from the latest issuance entirely toward renewable energy investments. The goal is to speed up the transition to greener electrical grids across the US, it noted.

In mid-February, Verizon announced it had fully allocated almost USD 1 billion of net proceeds from its third green bond, issued in September 2021.

The company has partnered with BofA Securities and three minority- and women-owned firms, namely Loop Capital Markets, Ramirez & Co Inc and Siebert Williams Shank, as lead underwriters for the fourth green bond.

(USD 1.0 = EUR 0.891)

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