Covestro issues EUR 500 million green bond

Recently, Covestro announced that the company successfully issued its first green bond with a total amount of 500 million euros in the capital market. The bond has a 4.75% annual coupon and is due in November 2028 with a six-year maturity.

Dr. Thomas Toepfer, Chief Financial Officer of Covestro: "Even in a challenging market environment around the world, we maintain a clear focus on the circular economy and embed sustainability in all areas of our business. High demand from investors It also once again demonstrates the high level of confidence in the capital markets in our strategic direction and forward-looking approach to managing our business."

Covestro said that by issuing green bonds, Covestro reaffirmed its commitment to sustainable development. The company will use all proceeds from the bond issue to fund sustainable projects that contribute to the circular economy, such as those related to renewable energy, energy efficiency and sustainable buildings. With this transaction, Covestro said, the company has strengthened its liquidity base, especially by extending the average maturity of its bond portfolio in the context of continued turmoil in the market environment.

Covestro's bond issuance is supported by BNP Paribas, Deutsche Bank, ING and Societe Generale.