Truist Financial Corp. Issues Social Bond
March 02 2021 - 6:50PM
Dow Jones News
By Stephen Nakrosis
Truist Financial Corp. on Tuesday said it issued its first
social bond, with an aggregate principal amount of $1.25
billion.
The company said it received participation from more than 120
investors, adding the order book was oversubscribed by 2.7
times.
Net proceeds will go to "support new and existing eligible
social programs, including investments in affordable housing and
enhancements to essential nonprofit services for communities in
need," the company said.
Tori Kaplan, head of Truist Corporate Social Responsibility,
said, "This first social bond marks a significant milestone in our
overall ESG commitment and our journey to advancing equity in the
communities we serve."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 02, 2021 18:35 ET (23:35 GMT)
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