HERZOGENAURACH – Sportswear brand Adidas has issued its first sustainability bond to the tune of €500 million, and says it will use the capital raised to fast-track investment into ‘sustainable’ materials, as well as projects that positively impact communities.
The framework of the bond, which has a term of eight years and will be listed on the Luxembourg Stock Exchange with denominations of €100,000 each, has been validated by Sustainalytics which deems it “credible, impactful and aligned with established sustainability principles”.
Adidas’ chief financial officer Harm Ohlmeyer believes the issuing of this bond “marks another milestone” for the company, which joins VF Corp., Burberry and Chanel in becoming the first fashion firms to outline such a mechanism.
