CFC Issues Sustainability Bond to Support Electric Cooperatives
DULLES, Va., Oct. 14, 2020 (GLOBE NEWSWIRE) -- The National Rural Utilities Cooperative Finance Corporation (CFC) announces the successful issuance of its inaugural Sustainability Bond to be used to finance rural broadband and renewable energy projects. These projects are meant to address strategic areas where electric cooperatives can make the most positive social and environmental impact in their communities. Under CFC’s Sustainability Bond Framework the net proceeds from this bond will be dedicated to financing projects that provide:
- Access to essential services for underserved and rural populations and
- Renewable energy including but not limited to solar, wind, geothermal and renewable battery storage.
CFC’s $400,000,000 Sustainability Bond has a 10-year term and a 1.35 percent annual coupon.
“This new bond demonstrates CFC’s and our member cooperatives’ commitment to the communities they serve, which is a core principle of our business model,” CFC CEO Sheldon Petersen said. “CFC has pioneered financial solutions for electric cooperatives since our inception 51 years ago, and we are proud to have launched the first sustainability, or ESG bond, issued by the electric cooperative network.”
CFC has published its Sustainability Bond Framework on its website. In addition, an independent second-party opinion on the Sustainability Bond Framework and its alignment with relevant ESG market standards was provided by Sustainalytics, a provider of ESG research and analysis. “CFC’s Sustainability Bond is a win-win for CFC, our members and their communities,” CFC CFO Andrew Don said, “The 10-year bond is the lowest coupon ever issued by any utility company in the sustainability market environment.”
About CFC
Created and owned by America’s electric cooperative network, the National Rural Utilities Cooperative Finance Corporation (CFC)—a nonprofit finance cooperative with more than $28 billion in assets—provides unparalleled industry expertise, flexibility and responsiveness to serve the needs of our member-owners. CFC is an equal opportunity provider. Visit us online at www.nrucfc.coop.
| Contact: |
Brad Captain Corporate Relations publicrelations@nrucfc.coop 800-424-2954 |
Ling Wang Banking & Investor Relations investorrelations@nrucfc.coop 800-424-2954 |
||
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
