Visa Prices $500 Million in Green Bond Offering, Taps Chief Sustainability Officer
11 August 2020 - 01:42PM
Dow Jones News
By Dave Sebastian
Visa Inc. said it has priced its inaugural green bond offering
of $500 million and tapped Douglas Sabo as its first chief
sustainability officer, in a move to fund environmentally friendly
projects such as renewable energy use.
The green bonds will pay a semiannual coupon of 0.75% and mature
on Aug. 15, 2027, the digital-payments company said on Tuesday.
Mr. Sabo is the vice president and head of global corporate
responsibility and sustainability and has been with the company
since 2008, according to its LinkedIn profile. He served a similar
role at McAfee Inc.
Proceeds of the green bond will go toward upgrades to buildings,
energy-efficiency improvements and other initiatives, the company
said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
August 11, 2020 07:27 ET (11:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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