Tag: Sustainability Bond

Mastercard Issues $600 Million Sustainability Bond

Stuart Mitchell

Mastercard has announced that it has successfully priced a $600 million Sustainability Bond at a fixed rate of 1.90%. This milestone further supports the company’s work to build an inclusive and sustainable digital economy through commercially sustainable social impact. Mastercard’s global commitments include reaching net zero emissions by 2050 and bringing 1 billion people and 50 million small businesses into the digital economy by 2025. The proceeds from the Sustainability Bond will support significant progress already made towards maximizing carbon reduction, supporting environmental choices for customers, and fostering inclusive growth.…

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Goldman Sachs Issues $800 Million Sustainability Bond

Stuart Mitchell

The Goldman Sachs Group, Inc. has announced that it has settled an $800 million Sustainability Bond to accelerate climate transition and advance inclusive growth across nine core thematic areas: clean energy, sustainable transport, sustainable food and agriculture, waste and materials, ecosystem services, accessible and innovative healthcare, accessible and affordable education, financial inclusion, and communities. The bond is unique in that eligible categories are based on the above mentioned nine key impact themes that also underpin Goldman Sachs’ sustainable finance commitment. The commitment includes a target to deploy $750 billion across…

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TD Bank Group Issues First-Ever Sustainability Bond to Support Environmental and Social Initiatives

Stuart Mitchell

The Toronto-Dominion Bank (“TD” or the “Bank”) has closed a three-year US$500 million sustainability bond maturing on September 28, 2023.  The issue marks TD’s inaugural sustainability bond and the first to be issued under the Bank’s Sustainable Bonds Framework. The proceeds from this issuance will be used to finance and/or refinance loans, investments and internal or external projects (collectively, “Eligible Assets”) that meet the Framework’s criteria for being considered environmentally or socially responsible. Examples of Eligible Assets include green buildings, clean transportation, access to essential services such as healthcare, affordable…

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Co-op raises £300 million in first for a UK retailer through a sustainability bond focusing on fairtrade

Stuart Mitchell

The Co-op, in a first for a UK retailer, has issued a sterling denominated Sustainability Bond. It has raised £300m and shall proceed to allocate proceeds exclusively on its work on supporting and promoting Fairtrade, including Fairtrade producers and their communities. The move underlines the Co-op’s unique focus on a better way of doing business which delivers real benefits for members, communities and investors. The Co-op’s leadership on Fairtrade comes as some other major retailers are scaling back their investment, a key source of support for communities around the developing…

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Starbucks Completes Issuance of Third and Largest Sustainability Bond

Stuart Mitchell

Starbucks Corporation has announced that it has completed issuance of a $1 billion Sustainability Bond. It is the largest Sustainability Bond the Company has issued to date and follows two previously issued Sustainability Bonds in 2016 and 2017.  “We are very pleased to see that our new Sustainability Bond attracted significant investor interest and was oversubscribed,” said Patrick Grismer, cfo of Starbucks. “The bond demonstrates Starbucks commitment to meaningful, continual progress toward our aspiration of sustainable coffee, served sustainably. It also illustrates a trend toward heavier interest from investors in our socially…

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