Deutsche Windtechnik wins turbines maintenance contract in Sweden
Sep 19, 2024 14:55 CESTSwedish clothing retailer Hennes & Mauritz AB (STO:HM-B), or H&M, has raised EUR 500 million (USD 529.4m) in its inaugural green bond issue carried out as part of the company’s Sustainable Finance Framework.
The net proceeds from the transaction will go for eligible projects within five categories, including circular economy, green buildings, renewable energy, energy efficiency and sustainable water management and wastewater management.
The bond, which was more than 3.5 times oversubscribed, matures in eight years. It was arranged by BNP Paribas, ING, JP Morgan, SEB and UniCredit, according to a statement released on Thursday.
“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,” said CEO Adam Karlsson.
The Swedish firm has committed to cutting emissions and achieving net zero by 2040. The company already has a number of power purchase agreements (PPAs), both at home and abroad.
(EUR 1 = USD 1.058)
Deutsche Windtechnik wins turbines maintenance contract in Sweden
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