Bank of America Issues $2 Billion Equality Progress Sustainability Bond
CHARLOTTE, N.C.–(BUSINESS WIRE)–Bank of America announced today the issuance of a $2 billion Equality Progress Sustainability Bond designed to advance racial equality, economic opportunity and environmental sustainability, the first offering of its kind in the financial services industry.
The transaction also represents the first sustainability bond issued by a U.S. bank holding company where the social portion of the use of proceeds will be dedicated to financial empowerment of Black and Hispanic-Latino communities.
This is Bank of America’s eighth environmental, social and governance (ESG)-themed corporate bond, bringing the firm’s aggregate total of issuance to $9.85 billon.
“Our focus on sustainable finance is…