Burberry launches its inaugural sustainability bond on London Stock Exchange
Burberry Group plc, a global luxury brand, launches its inaugural medium-term Sustainability Bond on London Stock Exchange.
Burberry is the first luxury fashion company to issue a sustainability labelled bond. The final terms are for a £300,000,000 1.125% bond due 21 September 2025.
Burberry was founded in 1856 by Thomas Burberry and is now a global luxury brand, headquartered in London, offering men’s, women’s and children’s clothing, accessories, fragrance and beauty products. Burberry established its environmental and social responsibility programme in 2004 and ESG matters are now embedded throughout the organisation.
The bond will diversify Burberry’s sources of funding, introducing long-term financing into the Company’s capital structure. The proceeds will be used to finance and/or refinance eligible sustainable projects as described by Burberry’s Sustainability Bond Framework.
Julie Brown, Chief Operating and Chief Financial Officer said: “We are delighted that our inaugural Sustainability Bond has been listed on the London Stock Exchange’s Sustainable Bond Market. Burberry has a longstanding commitment to sustainability and we are dedicated to using our position and influence to drive social and environmental improvements. The addition of this financing will support our liquidity and allow us to secure proceeds for investment in our sustainability agenda over the life of the bond.”