By Stephen Nakrosis

Eli Lilly and Co. said it priced its first sustainability bond to advance the company's global environmental, social and governance strategy.

Lilly said it was issuing EUR600 million of 0.50% notes with 12-year maturity.

The company said it will allocate an amount equal to the bond's net proceeds to projects including increased access to medicines, empowering a diverse workforce, reducing waste and water emissions and protecting coastal, marine and watershed environments.

"This sustainability bond is Lilly's latest commitment to our ESG strategy, which is core to our mission," said Anat Ashkenazi, chief financial officer.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

09-09-21 1504ET