Bank of America Issues $2 Billion Sustainability Bond
September 25 2020 - 11:33AM
Dow Jones News
By Dave Sebastian
Bank of America Corp. said it has issued a $2 billion
sustainability bond with a focus on racial equality, economic
opportunity and the environment.
The bank said part of the bond's proceeds will go toward
supporting financial-empowerment efforts for Black and
Hispanic-Latino communities.
Bank of America said the bond is its eighth ESG bond, bringing
total issuance to $9.85 billion. The five-year bond is callable in
four years and will pay semi-annual interest at a fixed rate of
0.981% for the first four years, and quarterly at a floating rate
after that, it said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
September 25, 2020 11:18 ET (15:18 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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