NEW YORK–(COMMERCIAL THREAD) – Equitable Holdings, Inc. (the “Company”) (NYSE: EQH) today announced the completion of a $ 500 million sustainable financing issue. The issue was offered in the form of 5-year Funding Backed Notes (FABNs) through Equitable Financial Life Global Funding. The transaction attracted strong participation from sustainable bond investors, with around half of the allocations going to investors focused on environment, social and governance (“ESG”) investments.
Detailed under Equitable’s sustainable financing framework, the proceeds will fund green and social projects aligned with the company’s sustainability priorities, such as global stewardship, responsible investing and the climate change strategy. Eligible projects also align with the United Nations Sustainable Development Goals, such as climate action, affordable and clean energy, safe water and sanitation, sustainable cities and communities, and reduction of inequality.
“As an organization committed to helping people secure their financial well-being so that they can lead long and fulfilling lives, Equitable Holdings’ mission is intrinsically rooted in a strong foundation of sustainability and ESG. This issue as part of Equitable’s sustainable financing reinforces the company’s commitment to be a force for good and drive positive environmental and social change while having a positive impact on all the stakeholders we serve ”, said Robin Raju, chief financial officer.
The Fair Sustainable Financing Framework is in line with the elements of the Green Bond Principles (“GBP”) (2021), and the Social Bond Principles (“SBP” (2021)) and the Sustainability Bond Guidelines (2021) . Equitable also obtained a Second Party Opinion (SPO) from ISS on the environmental and social benefits of this framework as well as alignment with the GBP and SBP.
The offering was structured by JP Morgan, with BNP Paribas Securities Corp., BofA Securities, Inc. and JP Morgan Securities LLC acting as associate bookkeepers, and Bancroft Capital LLC and Blaylock Van, LLC acting as co -managers.
About Equitable Holdings
Equitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established primary franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable offers advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm providing high-quality, diversified research and investment services to institutional investors, individuals and private clients in major global markets. Equitable Holdings has approximately 12,000 employees and financial professionals, $ 822 billion in assets under management (as of 3/31/2021) and more than 5 million client relationships worldwide.