Equitable Holdings Announces Inaugural $500 Million Sustainable Financing Issuance

Rhea-AI Summary

Equitable Holdings, Inc. (NYSE:EQH) has successfully completed a $500 million sustainable financing issuance through funding agreement-backed notes (FABN). The strong participation from sustainable bond investors, with approximately 50% allocation to ESG-focused investors, highlights the demand for such financing. Proceeds will support green and social projects aligning with the company’s sustainability goals, including climate action and affordable energy. The issuance adheres to Green Bond and Social Bond Principles and received a Second Party Opinion verifying its environmental and social benefits.

Positive

• Successful completion of $500 million sustainable financing issuance.
• Strong interest from investors, particularly in ESG-related investments.
• Proceeds will fund projects aligned with sustainability priorities and UN Sustainable Development Goals.

Negative

• None.

Equitable Holdings, Inc. (the “Company”) (NYSE:EQH) announced today the completion of a $500 million sustainable financing issuance. The issuance was offered in the form of 5-year funding agreement-backed notes (FABN) through Equitable Financial Life Global Funding. The transaction garnered strong participation from sustainable bond investors with approximately half of the allocations going to investors focused on environmental, social, and governance (“ESG”) related investments.

Detailed in 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 Climate Change Strategy. Eligible projects also align to UN Sustainable Development Goals, such as climate action, affordable and clean energy, clean water and sanitation, sustainable cities and communities, and reduced inequalities.

“As an organization committed to helping people secure their financial well-being so they can pursue long and fulfilling lives, the mission of Equitable Holdings is inherently grounded in a strong sustainability and ESG foundation. This issuance under Equitable’s Sustainable Financing Framework furthers the Company’s commitment to being a force for good and driving positive environmental and social change while positively impacting all of the stakeholders we serve,” said Robin Raju, Chief Financial Officer.

The Equitable Sustainable Financing Framework is in alignment with the components of the Green Bond Principles (“GBP”) (2021), and the Social Bond Principles (“SBP”) (2021), and the Sustainability Bond Guidelines (2021). Equitable has also obtained a Second Party Opinion (SPO) from ISS on the environmental and social benefits of this Framework as well as the alignment to the GBP and SBP.

The offering was structured by J.P. Morgan, with BNP Paribas Securities Corp., BofA Securities, Inc., and J.P. Morgan Securities LLC acting as joint book-runners, 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 principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world 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 globally.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210712005786/en/

FAQ

What is the recent funding issuance by Equitable Holdings (EQH)?

Equitable Holdings announced a $500 million sustainable financing issuance through funding agreement-backed notes (FABN).

How will Equitable Holdings use the proceeds from the $500 million issuance?

The proceeds will fund green and social projects aligned with the company's sustainability priorities.

What percentage of the issuance went to ESG-focused investors?

Approximately 50% of the allocations went to investors focused on environmental, social, and governance (ESG) investments.

What guidelines does the Equitable Sustainable Financing Framework align with?

The framework aligns with the Green Bond Principles (GBP), Social Bond Principles (SBP), and Sustainability Bond Guidelines.

Who structured the offering for Equitable Holdings' financing?

The offering was structured by J.P. Morgan, with several other financial institutions acting as joint book-runners and co-managers.