Money in hands with leaf growing

Royal Bank of Canada (RBC) has successfully completed the issuance of its second green bond.

The offering, valued at $US750 million and introduced in the U.S. market, was a five-year bond and the first product of its kind to be delivered through the company’s Sustainable Bond Framework launched in 2020.

Proceeds of the bond will finance or refinance green assets tied to categories such as renewable energy, clean transportation and sustainable land use. Further, the bond included a group of joint lead managers who “represent broker dealers owned and/or operated by leaders across underrepresented groups, including people of colour, women and service-disabled veterans,” a release said.

The bond issuance was part of RBC’s goal to support “the transition to a net zero economy” and boost “projects and organizations that share in our goal of contributing to a more sustainable and inclusive future,” said Lindsay Patrick, head of strategic initiatives and ESG, RBC Capital Markets, in the release.

RBC’s first green bond was issued in 2019.