US telecoms group Verizon Communications Inc (NYSE:VZ) has closed the issuance of USD 1 billion (EUR 913m) worth of green bonds, raising money for investments in renewable energy.
With the latest transaction, the New York-based company has raised a total of USD 5 billion through five green bond issuances since 2019, a press release said on Tuesday.
Verizon has partnered with Wells Fargo Securities and four minority- and women-owned firms as lead underwriters for this latest offering, including CastleOak Securities LP, Loop Capital Markets, Ramirez & Co Inc and Siebert Williams Shank.
The previous such offering was settled in March 2022, while in February 2023 the telecoms conglomerate announced having fully allocated the net proceeds from it. More specifically, the funds were spent entirely on virtual power purchase agreements (VPPAs) for an aggregate of 850 MW of new renewable energy generating capacity, of which about 71% is wind power and 29% is solar.
(USD 1 = EUR 0.913)