BofA issues Equality Progress Sustainability Bonds
September 29, 2020
Last Friday, Bank of America announced it is going to place a $2 bln bond to fund the promotion of racial equality. Namely, these funds will be used for the financial empowerment of Black and Hispanic-Latino communities.
This issue is the first of its kind, being a part of BofA's ESG-Themed Corporate Bond Program, which has already raised approximately $10 bln in total for investments with environmental and social benefits.
“Our focus on sustainable finance is one of the ways we drive responsible growth. By addressing these critically important issues through ESG-themed securities, we are offering a way for fixed-income investors to be part of social and environmental change, and drive solutions through the debt capital markets,” said Anne Finucane, vice chairman at Bank of America.
Earlier this month, Citigroup also allocated $1 bln to help close the racial wealth gap and increase economic mobility in the United States.
Company — Bank of America Corporation
Full nameBank of America Corporation