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Recently, Covestro announced that it has successfully issued its first green bond
in the capital market totaling 500 million euros.
The bond, which has an annual coupon of 4.
75%, matures in November 2028 with a maturity of six years
.
Thomas Chief Financial Officer of Covestro
Dr Toepfer said: "Even in a challenging global market environment, we maintain a clear focus on the circular economy and embed sustainability in all areas of
our business.
The high demand from investors also reaffirms the high level of trust in the capital markets in the strategic direction and forward-looking approach to managing our business
.
”
Covestro said that by issuing green bonds, Covestro reaffirmed its commitment
to sustainable development.
The company will use all proceeds from the bond issuance to fund sustainable projects that contribute to the circular economy, such as those
related to renewable energy, energy efficiency and sustainable buildings.
Covestro said that with this transaction, the company strengthened its liquidity base, especially against the backdrop of continued turbulent market conditions, extending the average maturity
of its bond portfolio.
Covestro's bond offering is backed
by BNP Paribas, Deutsche Bank, ING and Societe Generale.
