Forbright issues USD 125 million first green bond – QNT Press Release


The first Bank of America holding company (ranked eighth) with combined total assets of less than US$150 billion to issue bonds and raise funds exclusively for clean energy transition financing

Forbright Inc., recently renamed from Congressional Bancshares, Inc. or Forbright, today announced the completion of its first private placement of green bonds, the issuance of US$125 million fixed-to-floating-rate subordinated notes with a maturity date of January 1, 2031. Issued by a bank holding company, the proceeds will be injected into the bank as capital and used to finance or refinance projects aimed at promoting decarbonization and accelerating the transition to a more sustainable economy.

Forbright is the first Bank of America holding company with combined total assets of less than US$150 billion and the eighth financial institution to issue green bonds. This is an important step towards fulfilling Forbright’s commitment to become the first full-service U.S. bank with a mission of sustainability and decarbonization.

“We launched Forbright to enable our customers, partners and stakeholders to directly contribute to a more sustainable future and to seize the huge investment opportunities brought about by economic decarbonization. Our first green bond is One way we deliver on this promise,” said the founder and executive chairman John Delaney.

Fuda’s Green financing framework Guide the selection and management of net investment projects with funds raised from green bonds. Sustainalytics is an experienced global leader in high-quality environmental, social and governance (ESG) research, ratings and data, with Independent verification Forbright’s green financing framework is “credible and influential, and it complies with the four core components of the International Capital Market Association (ICMA) 2021 Green Bond Principles (GBP)”.The financing project will focus on eligible project categories of renewable energy and energy efficiency, seeking to reduce greenhouse gas emissions and fossil fuel consumption to promote United Nations Sustainable Development Goal 7 (Affordable clean energy).

In September, Forbright became the seventh U.S. bank Sign the United Nations Principles for Responsible Banking, An excellent global framework for sustainable banking. In order to maintain the transparency of the net income distribution of green bond issuance, Forbright intends to publish a report at least annually, describing the amount of net income allocated by qualified project categories, descriptions of specific financing projects, realized or expected impact indicators, and where feasible , And the unallocated balance.

“We are proud to provide investors with a way to align with…

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