Principal Financial Group issues $600M sustainability bond
Principal Financial Group announced that it has issued its first sustainability bond, a $600 million issuance, as part of the company’s commitment to integrating and advancing environmental, social and governance practices and initiatives in its organization and operations. “Principal is committed to being sustainable in our actions and solutions, and intentional in how we’re making progress toward our purpose,” said Deanna Strable, executive vice president and chief financial officer for Principal. “The issuance of a sustainability bond gives us an additional pathway to stimulate positive change in areas we believe we can have the greatest impact for the customers we serve and the communities where we work.” Bond proceeds under the terms of the five-year funding agreement-backed notes through Principal Life Global Funding II will be allocated toward eligible green and social initiatives such as green buildings, renewable energy, energy efficiency, sustainable water practices, clean transportation and other projects. More information about how Principal is advocating for and advancing ESG programs is available at principal.com/sustainability.