CFC Issues Second Sustainability Bond to Support Electric Cooperatives
18 August 2022 - 07:08PM
The National Rural Utilities Cooperative Finance Corporation (CFC)
has announced the successful issuance of its second Sustainability
Bond. Under CFC’s Sustainability Bond Framework, the company can
use the proceeds to finance electric cooperatives’ broadband and
renewable projects that can make the most positive social and
environmental impact in their communities. The net proceeds from
this bond issuance will be allocated exclusively to finance
broadband projects that provide access to essential service for
underserved and rural populations.
CFC’s $400,000,000 Sustainability Bond has a 10-year term and a
4.15 percent annual coupon.“CFC and our member cooperatives are
focused on providing essential services to rural Americans,
including many underserved communities, which is a core principle
of our business model,” CFC Chief Executive Officer Andrew Don
said. “We had a very positive experience financing our members’
broadband projects with our first Sustainability Bond issued in
2020. We are pleased to issue a second bond that will support the
electric cooperative network and the communities it serves.”CFC
established its Sustainability Bond Framework in September 2020. An
independent second-party opinion on the bond’s framework and its
alignment with relevant environmental, social and governance (ESG)
market standards was written by Sustainalytics, a provider of ESG
research and analysis. CFC’s first Sustainability Bond Report was
published in August 2021. All three of these documents can be found
on CFC’s website.
“These Sustainability Bonds allow us, our investors and our
member cooperatives to finance the buildout of rural broadband, a
critical infrastructure need for our country,” said CFC Chief
Financial Officer Ling Wang.About CFCCreated and
owned by America’s electric cooperative network, the National Rural
Utilities Cooperative Finance Corporation (CFC)—a nonprofit finance
cooperative with more than $31 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 |
Heesun
Choi |
|
Corporate Relations |
Banking & Investor Relations |
|
publicrelations@nrucfc.coop |
investorrelations@nrucfc.coop |
|
800-424-2954 |
800-424-2954 |
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