Biopharmaceutical giant Pfizer Inc. (NYSE: PFE) completed a $1.25 billion ten-year “sustainability” bond paying interest semi-annually of 2.625 percent and maturing April 1, 2030.

This is the company’s first-ever sustainability bond.

Proceeds from the bond will help manage the company’s environmental impact and support increased patient access to Pfizer’s medicines and vaccines, especially among underserved populations, and strengthen healthcare systems.

In addition, proceeds will be used to make capital investments in manufacturing and development capacity that ensure medicines and vaccines needed and procured by governments and public health agencies are available in line with recommendations from global public health organizations.

This includes work to address the global COVID-19 pandemic and the threat of antimicrobial resistance. | To read full story, visit https://startuparound.com/read/1585504916.884035/Pfizer-Completes-$1.25-Billion-Sustainability-Bond?ref=audio_experience