Finance
Citi Bolsters Social Bond Market With Biggest Housing Deal Ever
- The bank issued $2.5 billion to support safe, quality rentals
- Debt sale follows Morgan Stanley’s deal for similar projects
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A series of Wall Street banks have sold social bonds recently, including a $2.5 billion offering from Citigroup Inc., the largest-ever deal of its kind from the private sector, as firms look to meet growing demand for bonds designed to make the world a better place.
Morgan Stanley borrowed $1 billion to help fund affordable housing projects earlier this month. Sales of debt for projects aimed at helping society have surged to a record as borrowers raise funds to address the pandemic.