City of London closes maiden US PP as green debt

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By Morgan Davis
18 Jul 2019

The City of London Corporation will raise £450m ($562m) of debt from its first US private placement deal, surpassing expectations. The debt will be issued under a green and sustainable financing framework.

After strong demand during the placement, £250m of external debt will be issued from September. Another £200m will be raised from July 2021, according to a press release from the issuer.

The deal, issued by City’s Cash, the Corporation’s endowment fund, was run by Lloyds Bank and Santander.

The proceeds ...

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