Mondelēz Steps into Sustainable Finance Market with Inaugural €2 Billion Green Bond Offering
Food company Mondelēz International announced that it has priced its initial green bond offering, issuing €650 million of 0.250% notes due September 2029, €650 million of 0.625% notes due September 2032, and €700 million of 1.250% notes due September 2041.
According to the company, the combined €2 billion issuance is the largest to date in the Packaged Foods and Consumer Goods industry.
Dirk Van de Put, Mondelēz International Chairman and Chief Executive Officer, said:
“I am proud to announce that we successfully placed our first green bond offering – the largest issuance to date within our industry. Our purpose – to empower people to snack right – guides our company and the impact we seek to have on people and the planet. We remain laser focused on building a more sustainable snacking company and this green bond issuance is an important testament to our commitment to advancing our ESG agenda.”
Mondelēz issued the bonds under its recently published Green Bond Framework, which details eligible use of proceeds for funds raised, along with project evaluation and selection guidelines, management of proceeds and transparency and reporting obligations. Eligible projects under the framework fall under two main categories, including “Building a thriving ingredient supply chain,” and “Reducing our environmental impact.” According to the company, the green bond proceeds will be allocated to projects that will help advance its commitment to sustainably source ingredients, reduce waste in packaging and tackle climate change.
Christine McGrath, Mondelēz International VP & Chief of Global Impact & Sustainability, said:
“Snacking Made Right is part of everything we do at Mondelēz International. Now more than ever is the time for companies to do what’s right and drive more sustainable business growth, and ESG investment is a critical element of that mission. This offering reflects our commitment to doing business the right way to reduce our impact on the environment, have a positive influence on society, and advance sector-wide lasting change. We look forward to working with our stakeholders to continue advancing these initiatives.”