Menu Close

Visa Debuts Consumer Finance Sector’s Green Dollar Bonds

(Bloomberg) — Visa Inc., the world’s largest payments network, is breaking ground by tapping the bond market to fund environmentally friendly projects.

 

The company is selling debt in as many as three parts, according to a person with knowledge of the matter. The shortest portion of the bond offering is a seven-year green note that may yield 0.6 percentage points above Treasuries, said the person, who asked not to be identified as the details are private. The sale marks the first from the consumer finance sector, according to data compiled by Bloomberg.

 

The San Francisco-based firm plans to use the proceeds from the green tranche to finance projects that meet eligible categories, including green buildings, renewable energy, sustainable water and wastewater management and projects that support sustainable living behaviors, according to Sustainalytics’ second-party opinion.

 

Companies and governments have raised about $113 billion in the green bond market this year, a slight decline from $118 billion in the same period last year, according to data compiled by Bloomberg. Meanwhile, sales of bonds to address social issues jumped a record 376% in the first half of the year as issuers ramped up borrowing to tackle the coronavirus pandemic.

 

Google parent Alphabet Inc. sold $5.75 billion of sustainability notes at record-low rates last week, the largest-ever from a corporation. Investors and Wall Street underwriters, including Goldman Sachs Group Inc. and JPMorgan Chase & Co. expect more Silicon Valley companies to follow Alphabet by issuing environmental, social and governance-linked debt.

 

“We expect investor focus on material ESG factors to continue to grow rapidly as interest in social factors is on the rise,” Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote in a note Monday.

 

Wells Fargo & Co., Bank of America Corp., JPMorgan and Deutsche Bank AG are managing the bond sale, the person said.

 

View: Source

View: More news

Related Posts

7 Comments

  1. Davidshova

    Blank Slate is a fun game for everyone, easy to teach and a blast to play. You’ve most likely spotted it on social media or heard about it on the radio. The best part is, it’s available wherever you buy games! The Schwitters invited couples they’d known for more than 45 years to participate as contestants. Leon, 75, donned a suit jacket and Cindi, 65, wore jewelry. They both wore name tags: his read Pat and hers, Vanna. With the computer’s camera pointed at the wheel and board, the Schwitters monitored the contestants as they took turns spinning the wheel. https://bighairydog.com/community/profile/yanirasisco798/ If you’re not yet comfortable jumping into a high-capacity fight, Free Fire – Battlegrounds could be the online multiplayer game you’d like to try out first. The controls are all on the screen and simple to navigate, but the highlight for you is that only have to go against 49 other users in a 10-minute window to survive until the end. That’s a quick multiplayer game to hone all your skills before an intense battle. In addition to playing board games online, we are enjoying playing multiplayer role-playing games.

Leave a Reply

Your email address will not be published.