Whirlpool Enters the Sustainability Bond Game

(Credit: Pixabay)

by | Apr 30, 2021

This article is included in these additional categories:

(Credit: Pixabay)

Whirlpool Corporation recently announced the completion of its $300 million 10-year inaugural Sustainability Bond with an interest coupon of 2.4% per annum. This transaction is in line with its newly introduced Sustainability Bond Framework.

Whirlpool Corporation’s Sustainability Bond Framework facilitates the company’s use of sustainable capital markets to finance eligible projects that align with its commitments. Sustainalytics, an ESG research, and ratings firm, reviewed Whirlpool Corporation’s Sustainability Bond Framework and provided a second party opinion. Sustainalytics has confirmed that Whirlpool Corporation’s Sustainability Bond Framework aligns with the Sustainability Bond Guidelines 2018, Green Bond Principles 2018, and Social Bond Principles 2020, published by the International Capital Market Association.

An amount equal to the bond proceeds will be used to finance projects within one or more of these categories:

Environmental Categories

  1. Eco-efficient Products
  2. Renewable Energy
  3. Energy Efficiency
  4. Green Buildings
  5. Pollution Prevention and Control

Social Categories

  1. Socioeconomic Advancement and Empowerment
  2. Access to Basic Infrastructure

This offering was made by means of a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the US Securities and Exchange Commission on Form S-3.

In July, Whirlpool announced that the Science Based Targets initiative (SBTi) approved the company’s Scope 1 and 2 greenhouse gas emissions reduction targets. They were the first appliance manufacturer in North America to join the initiative.

Additional articles you will be interested in.

Stay Informed

Get E+E Leader Articles delivered via Newsletter right to your inbox!

This field is for validation purposes and should be left unchanged.
Share This