Verizon’s $1 Billion Green Bond With Minority- and Women-Owned Firms

September 16, 2020

Cleary Gottlieb is representing Verizon Communications Inc. (Verizon), which announced on September 16, 2020, the pricing of its second green bond offering.

The offering follows its recent completion of the allocation of its first green bond and solidifies its position as a telecommunications industry leader in green finance. Verizon tapped two nationally recognized African American-owned investment banking firms, Loop Capital Markets and Siebert Williams Shank, as lead underwriters, further strengthening its long-standing partnership with minority-owned businesses. Joining them as lead underwriters are BofA Securities and Citigroup.

Verizon expects to use the net proceeds of the $1 billion offering primarily for long-term renewable energy purchase agreements that support the construction of solar and wind facilities that will bring new renewable energy to the grids that power its networks. The offering is expected to close on September 18, 2020.

For more information, please see the press release here.