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AMSTERDAM (Reuters) - Ardagh Metal Packaging sold $2.8 billion worth of green bonds on Friday, the biggest green issuance in the high-yield market to date, as a part of its plan to merge with a blank-check firm backed by billionaire Alec Gores.
FILE PHOTO: The sun rises behind the skyline of St Paul s Cathedral and the City of London, in London, Britain, August 2, 2020. REUTERS/John Sibley
Sub-investment-grade firms rarely issue green bonds, which fund environmentally-friendly projects. Just $12 billion was raised by such companies last year, according to Dealogic, a far cry from 2020’s overall green issuance of $270 billion, according to Climate Bonds Initiative.
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