The world fourth largest coffee roaster & marketer, Starbucks (SBUX) has completed its one billion dollars Sustainability Bond issuance. According to company info, the reason for the bond is to support the sustainable sourcing of ethical coffee and to help design, build and operate new Starbucks stores globally. The aim is to open 10.000 new Starbucks stores globally by 2025.
The company CFO Patrick Grismer said in the press release, that the bond attracted significant investors and it was oversubscribed. The maturity of the bond is 30 years.