Adidas places €500 million sustainability bond
Adidas has placed a €500 million sustainability bond, its first, which will help fund the company’s environmental and social initiatives.
The company said the newly created sustainability bond framework is validated by a second-party opinion, and eligible projects “cover investments into more sustainable materials and processes as well as projects that positively impact communities”.
With a term of 8 years and a coupon of 0.00%, the bond will be listed on the Luxembourg Stock Exchange in denominations of €100,000 each. The offering was said to be more than five times oversubscribed.
Adidas said projects might include purchases of recycled materials for sustainably-sourced products, investments into renewable energy production and energy-efficient buildings, and various initiatives to create lasting change for underrepresented communities. The sustainability bond framework will be on the company’s corporate website along with updates on how the proceeds are allocated.
