(Alliance News) - Smurfit Kappa Group PLC on Monday said it has started talks for a EUR1 billion bond sale as part of its new green finance framework.
The Northampton-based cardboard box company expects to sell the green bonds in two tranches, maturing in 8 years and 12 years, following a series investor meetings arranged by ING Group NV, Rabobank, BNP Paribas SA and Citigroup Inc. Smurfit Kappa plans to redeem its bonds due in 2024 following any green bond deal.
The money will be used to fund projects under the green finance framework, which may be used to make its products, manufacturing or forest management more sustainable.
Shares in Smurfit Kappa were down 0.9% to 4,117.00 pence in London on Monday afternoon. The wider FTSE 100 index was up 0.8%.
By Ivan Edwards; ivanedwards@alliancenews.com
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Smurfit Kappa (SKG)