Food Producer BRF Raises $549 Million In Brazil First Green Bond
BRF SA, the Brazilian company that makes more than 5,000 processed-food products from frozen pizzas to lasagnas, completed Friday the first so-called green bond sale in Latin America’s biggest economy.
The Sao Paulo-based company sold 500 million euros ($549 million) in notes due in 2022, with a coupon of 2.75 per cent. Since 2010, $80 billion of green bonds, which support clean energy and other sustainable initiatives, have been sold around the world, according to Bloomberg Intelligence.
“The green bond market is still underexploited,” Augusto Ribeiro Jr, BRF’s chief financial officer, said by telephone.
Three-fourths of the buyers were from Europe, with most of them based in Germany, France and Switzerland, Ribeiro said. The bonds will fund projects aimed at reducing water and electricity consumption, decreasing carbon emissions and lowering waste generation.
News by Bloomberg, edited by ESM