Berkshire Hills Announces Allocation of Inaugural $100 Million Sustainability Bond
BOSTON (Real Estate Wire/Green Trends) - Berkshire Hills Bancorp, Inc. (NYSE: BHLB) ("Berkshire" or the "Company"), announced that proceeds from its inaugural sustainability bond have been allocated to projects resulting in the creation of 330 units of affordable and workforce housing along with more than 200,000 square feet of green building development. Berkshire's Sustainability Bond Report, released in conjunction with today's announcement, demonstrates how proceeds were allocated to support affordable housing, workforce housing, green building and financial access and inclusion projects in communities across New England and New York. In June 2022, Berkshire became the first public U.S. community bank holding company with under $150 billion in total assets to issue a Sustainability Bond. The $100 million issuance of its 5.50% fixed-to-floating rate subordinated notes due 2032 was used to finance or refinance new or existing social and environmental pro...