Sonae issued a new bond loan of 20 million euros, indexed to environmental, social and corporate governance (ESG) indicator.
Sonae issued on Monday a new bond loan of 20 million euros, indexed to environmental, social and corporate governance (ESG) indicators.
“Sonae SGPS informs that on December 18 it issued a Bond Loan indexed to the group’s performance in environmental, social and corporate governance (ESG) indicators, by private subscription, in the amount of €20,000,000,” according to a statement sent to the Portuguese Securities Market Commission (CMVM).
“The final spread of this operation depends on Sonae’s ability to promote the presence of women in management positions and to reduce CO2 emissions.”
In a parallel statement sent to the media, the company said that “the operation was organised by BBVA Bank, by private subscription, without recourse to guarantees and for a final period of five years.”
Previously, on December 10, Sonae had already carried out “a set of refinancing operations of 150 million euros also linked to ESG indicators”, and now “the total amount of long term loans contracted by Sonae SGPS and Sonae MC with a sustainable framework, ‘Green’ and ‘ESG’, amounts to 280 million euros.”
According to the Sonae Group, the amount “represents more than 15% of the current gross debt of these companies,” while the company “strengthens its liquidity position and increases the average maturity of its debt.”
Sonae has also committed to achieving carbon neutrality in 2040 and updated its gender equality plan, “with even more ambitious targets for female leadership,” according to the company.