Prudential Financial To Issue Green Bond With Principal Amount Of $500 Mln

(RTTNews) - Prudential Financial Inc. (PRU) said that it plans to issue a green bond with a principal amount of $500 million, representing the first green bond issuance of its kind by a major U.S. life insurer. The green bond was offered alongside an additional $1 billion of Prudential debt on March 5.

The company noted that it will allocate net proceeds from the green bond to existing or future investments which provide environmental benefits including reduced greenhouse gas emissions and improved resource efficiency.

The company plans to use net proceeds from the $1 billion of debt issued alongside the green bond for general corporate purposes, which may include refinancing portions of the company's debt maturing through 2021.