UK/NETHERLANDS: Unilever issues GBP250m "green bond"
Unilever furthers sustainable agenda with "green bond"
Unilever revealed plans to issue the "first ever green sustainability bond" in the sterling market yesterday (19 March).
The GBP250m (US$412.9m) 2% fixed rate notes will be due in December 2018.
The company worked with DNV GL, an independent environmental consultancy, to develop a green sustainability bond framework to provide "clarity and transparency" around the use of the proceeds. The framework includes criteria on emissions, water use and waste disposal and outlines a yearly reporting schedule to detail use of the funds.
Unilever said the move was a first from the FMCG sector.
Commenting on the green bond, CFO Jean Marc Huet said that it provided investors with an opportunity to support Unilever's sustainable living plan. "By issuing our first green sustainability bond, our intention is to invite investors to support our vision for sustainable growth, while investing in the Unilever credit."
Current projects that will benefit from the capital raising include: a laundry liquid detergent factory in Johannesburg, South Africa; a laundry powder facility in Sichuan, China; a home and personal care factory in Selcuklu-Konya, Turkey; an ice cream factory in Johannesburg, South Africa; the expansion of a spreads factory in Kansas, US; and the "lean & green freezer' cabinets project in Turkey, Russia and the US.
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