Faegre Drinker represented Wells Fargo in its issuance of a $2 billion Inclusive Communities and Climate Bond, the financial services company’s second Sustainability Bond, which will fund projects and programs that support housing affordability, economic opportunity, renewable energy and clean transportation. Faegre Drinker also represented Wells Fargo in the issuance of its inaugural Inclusive Communities and Climate Bond in May 2021.
Wells Fargo engaged BurgherGray LLP, a minority-owned law firm, as co-issuer’s counsel on the offering. Wells Fargo Securities, LLC served as a bookrunner for the issuance, joined by five broker-dealers whose owners include people of color, women, and service-disabled veterans. They, along with 19 additional diverse broker-dealers whose owners are from underrepresented groups, received 75% of the underwriting fees from the offering.
Read Wells Fargo’s press release for more information.