(10 August 2020 – Asia) Visa has priced its inaugural green bond offering, totalling $500 million, paying a semi-annual coupon of 0.75% and maturing August 15, 2027. This marks the first dollar-denominated green bond from the consumer finance space.
The proceeds will be used to fund projects including upgrades to buildings, energy efficiency improvements, expanded usage of renewable energy sources, water efficiency projects, employee commuter programmes, and research and initiatives focused on sustainable consumer behaviours.
The proceeds will also support investments in projects to inspire and foster sustainable living in support of the United Nations Sustainable Development Goals.
The firm has also announced the appointment of its first chief sustainability officer, Douglas Sabo.
“Through our green bond offering and together with our initiatives driving inclusive economic growth, we are working to ensure people and planet both can thrive together,” said Sabo.