Comcast Issues $1 Billion Green Bond
Posted on 02/12/2023
Comcast Corporation has issued a $1 billion, 10-year green bond. Comcast seeks to be carbon neutral by 2035. Comcast trails in green bond issuance as Verizon has already launched four green bonds. Comcast is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky.
Advisors
BofA Securities, Inc. (Bank of America) was the sole green structuring agent and an active bookrunner. Also leading the green bond as active bookrunners were Academy Securities, Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc., and Siebert Williams Shank & Co., LLC.
In February 2019, Verizon became the first U.S. telecom company to issue a green bond. Verizon is one of the largest corporate green bond issuers in the U.S. with around US$ 4 billion in green bonds. On February 10, 2023, Verizon fully allocated the net proceeds of its fourth green bond entirely to virtual power purchase agreements targeting wind and solar energy. The fourth green bond from Verizon was issued in March 2022 for US$ 1 billion. Included in the full allocation are two new long-term VPPAs with Apex Clean Energy for an aggregate of up to nearly 300 megawatts (MW) of renewable energy capacity. These projects include a wind project for up to 80 MW in the ISO New England regional market, which is expected to be operational by the end of 2024, and a wind project for up to 200 MW in the Midcontinent Independent System Operator (MISO) regional market, which is expected to be operational by the middle of 2024.