Read the full story at ESG Today.
Convenience and snack food company Kellogg announced today the launch of its inaugural sustainability bond issue, with the pricing of a €300 million 8-year bond, with a 0.5% interest coupon. Proceeds from the issue will be used to fund sustainability initiatives at the company ranging from food security to climate action.
Kellogg’s inaugural sustainability bond issue comes as the sustainable finance market is experiencing substantial growth. According to a report issued by Moody’s Investors Service earlier this week, global sustainable bond issuance reached a record $231 billion in Q1 2021, more than triple the same quarter last year. Amazon also launched its inaugural sustainability bond issue this week, with a $1 billion offering.