Citi has issued and traded its inaugural structured green bond, a private placement that will be distributed by UBS Global Wealth Management. This is also the first ESG trade involving a structured product carried out by a US bank.
The proceeds of the note will fund green projects in renewable energy, energy efficiency, sustainable transportation, water quality and conservation, and green buildings as defined in its Green Bond Framework. The five-year structured bond features a capped call structure and is linked to the performance of the three-month USD Libor with a floor, payable quarterly. The new product represents the US bank's first move towards supporting sustainable finance and growing investor appetite in the gr
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