Citi Issues, Trades First Structured Green Bond
March 25 2019 - 02:43PM
Dow Jones News
By Michael Dabaie
Citigroup Inc. (C) said Monday it issued and traded its first
structured green bond, distributed by UBS Global Wealth
Management.
Citi said the proceeds will fund green projects in renewable
energy, energy efficiency, sustainable transportation, water
quality and conservation, and green buildings as defined in Citi's
Green Bond Framework.
Citi said the five-year bond provides exposure to 3-month USD
LIBOR with a floor, payable quarterly.
"The bond is a floored floating rate note, and is structured to
combine the benefits of a tailored approach towards risk-return
with sustainability criteria," said Bhaavit Agrawal, global head of
rates structured notes at Citi.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
March 25, 2019 14:28 ET (18:28 GMT)
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