Press release
Constellation Offers Nation’s First Corporate Green Bond for Nuclear Energy
Green financing instrument reinforces role of clean, reliable nuclear energy in achieving sustainability goals BALTIMORE--(BUSINESS WIRE)-- Constellation
About this update from Exelon Corporation
[{"type":"text","content":"\nGreen financing instrument reinforces role of clean, reliable nuclear energy in achieving sustainability goals\n\n\n BALTIMORE--(BUSINESS WIRE)--\nConstellation (Nasdaq: CEG), the nation’s largest producer of carbon-free energy, today issued the first corporate green bond in the United States that can be used to finance nuclear energy projects. Constellation will use proceeds from the $900 million, 30-year term offering for investments such as maintenance, expansion and life extensions of its clean, reliable nuclear power generation that reduce or avoid carbon emissions or provide other environmental benefits.\n\n\nA green bond is a financial instrument that is issued specifically to finance projects or activities that deliver positive environmental or climate impacts. It allows investors to actively support investments that promote sustainability and help address environmental challenges.\n\n\n“Elected officials on both sides of the aisle, climate and sustainability advocates and the general public are increasingly recognizing the value nuclear energy delivers, not only for its unmatched 24/7 reliability, but for its positive environmental impact as a clean energy resource. The strong market response shows the investment community agrees nuclear energy is a unique clean-energy technology that is going to play a critical role for decades to come and is a safe, long-term investment,” said Dan Eggers, executive vice president and CFO, Constellation. “With the nation’s first-ever corporate nuclear green bond issuance as part of our long-term financing mix, Constellation and the market have again confirmed: Nuclear investments are long-term sustainability investments.”\n\n\nThe nuclear green bond offering was based on a new green financing framework that Constellation developed to enable the company to issue green financial instruments. Proceeds from the issuance can be used to finance green projects such as nuclear uprates, which increase production of clean, carbon-free energy at Constellation’s clean energy centers, technologies to produce clean hydrogen, energy storage systems, wind repowering and carbon-free energy solutions for Constellation’s commercial customers.\n\n\nCrédit Agricole CIB, the corporate and investment banking arm of Crédit Agricole Group, served as Green Structuring agent in Constellation's nuclear green bo...