Commercial, Finance - October 25, 2023
H&M Group Issues EUR 500 Million Green Bond
Global fashion and design company H&M Group issued a EUR 500 million green bond with a maturity of eight years under its Euro Medium Term Note (EMTN) program.
The net proceeds from the bond will be allocated toward eligible projects in five categories as defined in the Sustainable Finance Framework published on Sept. 1, 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. We are also happy to see a broadening of our investor base, including several leading green investors, which confirms the ambition of our sustainability agenda,” says Adam Karlsson, CFO, H&M Group, in a statement.
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