By Stephen Nakrosis
State Street Corp. on Friday said it issued an inaugural $500 million bond under its Sustainability Bond Framework, part of a broader $1 billion issuance of senior unsecured bonds.
State Street said it will allocate an amount equivalent to the proceeds from its sustainability bond to fund projects within the guidelines of its framework. These include affordable housing and renewable energy projects, as well as programs focused on racial equity and social justice, among others, the company said.
The Sustainability Bond offering totals $500 million of fixed-to-floating rate senior notes due 2026, the company added.
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(END) Dow Jones Newswires