November 9, 2018 / 2:55 PM / 4 days ago

ING issues green bond worth almost $3 billion

LONDON, Nov 9 (Reuters) - Dutch bank ING has issued a green bond worth nearly $3 billion, it said on Friday.

* The issue consists of two tranches - 1.5 billion euros ($1.7 billion) of 12-year paper and $1.25 billion of seven-year notes

* The issuance will fund a portfolio of new and existing loans for renewable energy and green buildings, the bank said

* ING issued its first green bond in Nov. 2015, which raised around 1.2 billion euros to fund low-carbon projects

* Green bonds are a category of fixed-income securities, which raise capital for projects with environmental benefits ($1 = 0.8813 euros) (Reporting by Nina Chestney; Editing by Kirsten Donovan)

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