Commercial, Energy Efficiency - August 11, 2020
Visa issues inaugural $500M green bond
Visa announced Aug. 11 that they priced their inaugural green bond offering at $500 million, which will advance their programs in environmental sustainability and in creating a sustainable payments ecosystem.
The green bond offering includes paying a semi-annual coupon of 0.75% and will mature Aug. 25, 2027. The proceeds from the bond will fund projects like building upgrades, energy efficiency improvements, expanded renewable energy, water efficiency projects, employee commuter programs and research focused on sustainable consumer behaviors.
“At Visa, we see a responsibility and an opportunity to use the power of our network to drive broad shifts toward a sustainable future,” Al Kelly, chairman and chief executive officer of Visa Inc., said in a statement. “Our green bond offering will help us accelerate the transformation of our infrastructure and operations to reach our environmental goals. This commitment extends to appointing Visa’s first chief sustainability officer, tasked with ensuring we continue to take bold and industry-leading actions on the environment.”
The bond continues the sustainability work previously done by Visa, including their achievement at the start of 2020 of transitioning to 100% renewable electricity. Visa plans to issue an annual report on the use of the proceeds from the green bond and on their environmental impact.
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