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H&M Group has issued an inaugural € 500 million green bond to support the financing of its circularity and climate roadmap
These bonds are with a maturity of 8 years under its EMTN (Euro Medium Term Note) programme and generated interest amongst a broad international base of institutional investors and were more than 3.5 times oversubscribed.
In a statement, H&M informed that the net proceeds from the bond will be allocated towards eligible projects in five categories as defined in the Sustainable Finance Framework published on 1st September 2023: Circular Economy, Green Buildings, Renewable Energy, Energy Efficiency and Sustainable Water Management & Wastewater Management.
“We are pleased to have been able to attract strong demand for our inaugural green bond from a large number of international investors. The transaction extends H&M Group’s debt maturity profile and supports our vision to lead the change towards achieving a circular fashion industry with a net-zero climate impact”, says Adam Karlsson, CFO, H&M Group.
He further added that “We are happy to see a broadening of our investor base, including several leading green investors, which confirms the ambition of our sustainability agenda.”
Also Read: VF Corp. announces closing of 500 million euro green bond offering
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