Verizon in $1 Billion Green Bond Offering

Cleary Gottlieb is representing Verizon Communications Inc. (Verizon), which announced on February 16, 2022, the pricing of its fourth green bond offering.

The offering follows its recent completion of the allocation of its third green bond and solidifies its position as a telecommunications industry leader in green finance. Verizon tapped two nationally recognized African American-owned investment banking firms, Loop Capital Markets and Siebert Williams Shank, and Hispanic-owned firm Ramirez & Co., as lead underwriters, further strengthening its long-standing partnership with minority-owned businesses. Joining them as lead underwriter is BofA Securities.

Verizon expects to use the net proceeds of the $1 billion offering primarily for long-term renewable energy purchase agreements that support the construction of solar and wind facilities that will bring new renewable energy to the grids that power its networks. The offering is expected to close on March 1, 2022.