Press release
Fifth Third Issues Inaugural $500 Million Green Bond
CINCINNATI--(BUSINESS WIRE)-- As part of its commitment to be a leader in sustainability, Fifth Third Bancorp today settled the issuance of its inaugural
About this update from Fifth Third Bancorp
[{"type":"text","content":" CINCINNATI--(BUSINESS WIRE)--\nAs part of its commitment to be a leader in sustainability, Fifth Third Bancorp today settled the issuance of its inaugural Green Bond for $500 million. The proceeds will fund green projects that align with the Company’s sustainability priorities, as outlined in the Fifth Third Bancorp Sustainable Bond Framework. With this issuance, Fifth Third is the first U.S. financial institution under $250 billion in assets to issue an ESG bond of any type.\n\n“With the issuance of our inaugural Green Bond, we are aligning our financing with our investment and lending priorities and extending our leadership in environmental sustainability,” said Jamie Leonard, executive vice president and chief financial officer, Fifth Third Bancorp. “Our Green Bond enables us to provide liquidity to our customers in their transition to a sustainable future as well as additional investment opportunities to our investors to meet their investment objectives.”\n\nThe Fifth Third Green Bond is aligned to the Green Bond Principles published by the International Capital Markets Association for use of proceeds, process for project evaluation and selection, management of proceeds, and reporting. The bond will fund eligible projects in the following categories: green buildings, renewable energy, energy efficiency and clean transportation. Additionally, Fifth Third published its second-party opinion from Sustainalytics, which indicated that the Company’s framework is credible, impactful, and aligned with the Green Bond, Social Bond, and Sustainability Bond Principles. Refer to Fifth Third’s investor relations website for details.\n\nThe offering was led by J.P. Morgan Securities LLC, Fifth Third Securities, Inc., and Citigroup Global Markets, Inc. and co-managed by minority and/or veteran-owned firms, including Academy Securities; CastleOak Securities, L.P.; R. Seelaus & Co., LLC; and Siebert Williams Shank & Co., LLC.\n\nFifth Third’s approach to Environmental, Social and Governance (ESG) priorities is focused on doing well by doing good, and to generate long-term sustainable value for the Company’s stakeholders, including shareholders, customers, employees, communities and regulators. In 2020, Fifth Third established an ESG Committee to monitor emerging risks and trends through stakeholder engagement, shareholder resolutions and reco...