Deals 02/16/2022

Loop Capital Markets mandated as joint-bookrunner on $1 billion senior unsecured Green bond offering for Verizon Communications, Inc.

On February 16, 2022, Loop Capital Markets was mandated as a joint-bookrunner on a $1 billion senior unsecured green bond offering for Verizon Communications, Inc. The 30-year bond is rated Baa1/BBB+/A-, marking the third time Verizon has utilized D&I firms as active bookrunners, sharing equal responsibility in bringing this successful Green bond issuance to market. This further supports the company’s commitment to advancing racial and social equity in the capital markets by partnering with women- and minority-owned firms. Verizon has become one of the leading corporate buyers of renewable energy in the U.S., by entering into 20 virtual power purchase agreements (VPPAs) also known as renewable energy purchase agreements (REPAs), for approximately 2.6 gigawatts of renewable energy capacity. The company’s investment commitments now total $4 billion to support the U.N. Sustainable Development Goals of sourcing or generating renewable energy of up to 50% of the company’s total annual electricity consumption by 2025 and net-zero in operational emissions by 2035.

Use of proceeds are earmarked to finance or refinance in whole or in part Eligible Green Investments. 100% of those investments will be allocated to renewable energy as Verizon continues to enter into long-term VPPAs which support the construction of solar and wind power facilities.

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