Whirlpool Corporation Issues Inaugural Sustainability Bond to Support Environmental and Social Initiatives
News provided by
Share this article
Share this article
BENTON HARBOR, Mich., April 29, 2021 /PRNewswire/ Whirlpool Corporation (NYSE: WHR) announced today the completion of its $300 million 10-year inaugural Sustainability Bond with an interest coupon of 2.4% per annum. This transaction is in line with its newly introduced Sustainability Bond Framework. This milestone further advances Whirlpool Corporation s global sustainability strategy focusing on actions to drive positive environmental and social impacts. Over the course of our 110-year history, Whirlpool Corporation has remained committed to designing and building products that exceed our consumers expectations while investing to care for our communities and the planet, said Jim Peters, chief financial officer of Whirlpool Corporation. We re encouraged that there was such strong demand from investors and believ
Whirlpool Corporation Issues Inaugural Sustainability Bond to Support Environmental and Social Initiatives prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
TRSDC secures $3.7bn funding for mega Red Sea project
RIYADH, 3 hours, 18 minutes ago The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project in Saudi Arabia, has closed a SR14.120 billion ($3.76 billion) term loan facility and revolving credit facility with four Saudi banks. The financing is the first Riyal-denominated credit facility to receive green financing accreditation, said a statement from TRSDC. The Green Financing accreditation is governed by a Green Financing Framework aligned with the Green Bond Principles (2018) and Green Loan Principles (2020) set out by the International Capital Markets Association (ICMA) and the Loan Market Association’s (LMA) respectively.
SHARE
The Red Sea Development Company (TRSDC) secured 14.12 billion Saudi riyals ($3.76bn) in funding through the first locally-denominated Green Financing credit facility. The developer raised the capital through term loan and revolving credit facilities from four banks in Saudi Arabia to fund construction of the multibillion-dollar tourism project on the west coast of the kingdom, it said in a statement on Tuesday.
Banque Saudi Fransi, Riyad Bank, Saudi British Bank and Saudi National Bank were part of the financing deal.
“This is another milestone for the Red Sea Project and Vision 2030,” Jay Rosen, chief financial officer at TRSDC, said. “This financing adds another level of credibility by having the banks support the project. With a fully secured capital structure our project will become more attractive to investors.”
26 April 2021
Share
Finance must be mobilised at an absolutely unprecedented level if a net-zero economy is to be created as rapidly as required, US Special Presidential Envoy for Climate John Kerry said at the
Leaders Summit on Climate last week. The magnitude of this challenge means that governments alone cannot possibly find all the necessary investment, he added.
Special Presidential Envoy for Climate John Kerry speaking to participants in the Leaders Summit on Climate on 22 April
Kerry moderated the session
Investing in Climate Solutions, which included the heads of the US Treasury, the World Bank Group, the International Monetary Fund, the Green Climate Fund, Citigroup, the European Council and the African Development Bank, among others.