By Dieter Holger

 

Italy's Assicurazioni Generali SpA (G.MI) said Monday it will issue its first green bond on the Luxembourg stock exchange on Sept. 23.

Generali--the third-largest insurance company in the world--said its inaugural 11-year green bond will finance or refinance projects including green buildings, renewable energy, water management and recycling.

The bond will mature in October 2030, while the yield-to-maturity rate and the size of the bond will be set when the bond lists next week, a Generali spokesman said.

"Generali is convinced that the financial industry has a key role to play in the transition to a low carbon economy and is willing to contribute to the development of a sustainable financial market," the spokesman said.

 

Write to Dieter Holger at dieter.holger@dowjones.com; @dieterholger

 

(END) Dow Jones Newswires

September 16, 2019 07:28 ET (11:28 GMT)

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