Citi Announces Inaugural USD-denominated Benchmark Green Bond Issuance
May 11 2020 - 10:00AM
Business Wire
Citi today announced the issuance of the firm’s first
USD-denominated benchmark green bond, further enhancing its
commitment to environmental finance and the green bond market. This
bond follows Citi’s inaugural Euro-denominated green bond benchmark
issued in January 2019.
An amount equivalent to the net proceeds of this green bond will
fund renewable energy, sustainable transportation, water quality
and conservation, energy efficiency and green building projects as
outlined in the environmental eligibility criteria described in
Citi’s Green Bond Framework.
In the deal, which priced on May 7, 2020, Citi issued $1.5
billion four-year non-call three fixed to floating rate notes. The
transaction marks the second green bond offering from Citigroup
Inc. in public benchmark format.
“With our second benchmark transaction and first USD offering,
Citi continues to demonstrate its leadership in the green bond
market while meeting growing investor demand for sustainable
finance products globally,” said Michael Verdeschi, Treasurer of
Citi.
Citi made a 10-year commitment to finance and facilitate $100
billion in activities that provide environmental benefits and
reduce the impacts of climate change, beginning in 2014. Citi
exceeded that goal in 2019 — four years ahead of schedule – and
continues to partner with its clients to finance climate solutions
and reduce climate risk. In addition, Citi has been a leader in
climate assessment and disclosure in alignment with the Task Force
on Climate-related Financial Disclosures Recommendations, and has
signaled its commitment to transitioning to a sustainable,
low-carbon economy as the first U.S.-based signatory of the
Principles for Responsible Banking. Citi released its 2019
Environmental, Social and Governance (ESG) Report in April 2020,
detailing its performance across a number of priority ESG
areas.
“Citi’s first U.S. dollar green bond is another milestone in our
commitment to sustainable finance,” said Val Smith, Citi’s Chief
Sustainability Officer. “We remain focused on developing innovative
products and solutions that accelerate green financing, anticipate
client demand and help drive sustainable growth.”
The consultancy Sustainalytics has reviewed Citi’s Green Bond
Framework and has confirmed in its Second Party Opinion that it is
aligned with the overall sustainability objectives of Citi and with
the ICMA Green Bond Principles. Following its inaugural green bond
issuance in January 2019, Citi also issued its first Citi Green
Bond Report in September 2019, detailing the allocation and impact
of the proceeds of Citi Green Bonds.
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200511005557/en/
Media Contact: Sophia Anthony Citi Global Public Affairs
Banking, Capital Markets & Advisory Communications +1 (212)
816-7140 sophia.anthony@citi.com
Citigroup (NYSE:C)
Historical Stock Chart
From Mar 2024 to Apr 2024
Citigroup (NYSE:C)
Historical Stock Chart
From Apr 2023 to Apr 2024