Northwest Arkansas Democrat-Gazette

Source: Comcast mulls green-bond sale

- CALEB MUTUA BLOOMBERG NEWS (WPNS) Informatio­n for this article was contribute­d by Andrew Kostic of Bloomberg News (WPNS).

Comcast Corp. is reaching out to gauge investor interest in what may be its firstever bond sale earmarked for environmen­tal projects. The nation’s largest broadband provider is looking to slash carbon emissions across its global operations.

The Philadelph­ia- based cable and media giant has asked banks, including Bank of America, to arrange a series of calls with fixed- income investors focused on environmen­tal, social and governance, or ESG, issues in connection with Comcast’s green-financing framework, according to a person with knowledge of the matter.

The calls were held Monday, and a U. S. dollar- denominate­d, benchmark-size green-bond sale may follow subject to market conditions, said the person, who asked not to be identified as the details are private.

Bank of America is coordinati­ng logistics and serving as the green-structurin­g agent.

Proceeds from any green financing will be allocated to eligible green investment­s that may include funding renewable energy projects, green buildings, clean transporta­tion and waste prevention, reduction and recycling, according to Comcast’s green-financing framework.

Comcast is expected to join its peers in tapping the global green-bond market at a time when the price benefit for issuing such bonds has vanished and investors have become more critical of ESG.

Verizon Communicat­ions Inc., one of the largest issuer of U.S. corporate bonds among telecom companies, said in July that investors in the United States are getting demanding when it comes to green-bond sales as they become increasing­ly wary of greenwashi­ng.

Newspapers in English

Newspapers from United States