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MetLife Makes Green Bond Sale Debut as Financials Pave the Way

  • The U.S. life insurer sold $750 million in sustainable debt
  • Financials raised a record $75.9 billion in green debt in 2019
The MetLife Inc. headquarters building stands in New York.

The MetLife Inc. headquarters building stands in New York.

Photographer: Michael Nagle/Bloomberg

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MetLife Inc., the largest U.S. life insurer by market capitalization, sold green bonds for the first time ever as it issued $750 million of debt, adding to a surge in issuance of the securities from the financial sector.

The New York-based company borrowed to fund environment-friendly projects through its Metropolitan Life Global Funding I entity, according to a person with knowledge of the matter. The bond yields 0.7 percentage point above Treasuries, after initial discussions of around 0.9 percentage point, said the person, who asked not to be identified as the details are private.