Category: Diversity & Equality
A weekly overview of ESG developments for fixed income A weekly overview of ESG developments for fixed income A weekly overview of ESG developments for fixed income
US retailer Walmart has raised $2bn from its inaugural green bond as part of a multi-tranche $7bn financing raise. According to reports, the interest rate on the 10-year notes - the largest ever by a US non-financial corporation - was 50bp above the Treasury benchmark. Proceeds will be spent on projects including renewables, energy efficient refrigeration and electric vehicles. Telecommunications giant Verizon also announced that it has raised $1bn from a 20-year green bond,its third, which it said it expects to allocate entirely to renewable energy projects.
Elsewhere in the US, energy firm the Tennessee Valley Authority secured its lowest ever 10-year coupon, after issuing a 1.5% green bond. There was more than $2bn of demand for the $500m deal, which will finance renewables and energy storage projects. And US-based Graphic Packaging International has issued a 50-year green bond. The $100m, 4% deal will support the firm’s “cardboard p…