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Sept. 8, 2021, 8:38 a.m. EDT

Verizon prices third $1 billion green bond and changes underwriter selection criteria to focus on diversity

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By Ciara Linnane

VZ

Verizon Communications Inc. /zigman2/quotes/204980236/composite VZ -0.86% said Wednesday it priced its third $1 billion green bond on Friday, just after the full allocation of its second green bond toward renewable energy commitments. Proceeds of the third bond will also be allocated toward renewable energy as Verizon enters long-term virtual power purchase agreements to support solar and wind power projects. The company has also adapted underwriter selection criteria to focus n sustainability and diversity and has selected three minority- and women-owned firms as lead underwriters for the launch of the green bond, namely Loop Capital Markets, Ramirez & Co., Inc. and Siebert Williams Shank. It has appointed Morgan Stanley as one of four lead underwriters. The company has paid about $20 million in underwriting fees to minority- and women-owned companies, including $4.5 million for the latest green bond and more than $14 million in fees stemming from its $25 billion debt offering in March.

/zigman2/quotes/204980236/composite
US : U.S.: NYSE
$ 52.93
-0.46 -0.86%
Volume: 16.07M
Oct. 22, 2021 4:00p
P/E Ratio
9.95
Dividend Yield
4.84%
Market Cap
$219.14 billion
Rev. per Employee
$970,439
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