SKF Issues EUR400 Million Green Bond
08 September 2022 - 1:38PM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Sweden's SKF AB said Thursday that it has issued its
second green bond, which will raise 400 million euros ($400.3
million) to fund eligible green projects.
"The proceeds from the green bond will finance continued
investments in SKF's intelligent and clean strategy, where
potential projects totaling a significant amount of the bond's
value already have been identified," it said.
The Swedish ball-bearing maker said these potential projects
include capital investments and product development for cleantech
as well as reduced energy consumption and waste, both for its
customers and SKF's own operations. This comes as part of its
ambitions to reach net zero greenhouse gas emissions in own
operations by 2030 and in the supply chain by 2050, the company
said.
The bond was oversubscribed more than six times.
SKF has previously allocated the EUR300 million raised in its
first green bond to 90 eligible projects.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 08, 2022 07:23 ET (11:23 GMT)
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