Benzinga | Dec 13, 2021 08:50AM EST

Merck Raises $1 Billion Via Inaugural Sustainability Bond

* Merck & Co Inc (NYSE:MRK) has announced its inaugural issuance of a $1 billion sustainability bond, which was part of an $8 billion underwritten public offering of notes that closed last week.

* Merck will use the proceeds from the bond offering to support projects and partnerships in the company's priority environmental, social, and governance (ESG) areas and contribute to the advancement of the United Nations Sustainability Development Goals.

* The bond transaction is in line with Merck's newly introduced Sustainability Financing Framework, which facilitates its use of sustainable capital markets to finance or refinance eligible projects that align with its ESG commitments.

* Price Action: MRK shares are down 0.26% at $72.43 during the premarket session on the last check Monday.