Pic: Burberry


Burberry Group plans to problem a benchmark-sized, medium-dated, sterling general public Sustainability Bond – the to start with sustainability labelled bond issued by a luxurious organization. It will diversify Burberry’s sources of funding, introducing long-expression financing into the company’s cash structure. The proceeds will be utilized to finance qualified sustainable assignments.

Burberry has used to be rated by Moody’s and expects the Bond to be rated Baa2 (Steady Outlook).

The Bond will be issued pursuant to the company’s Sustainability Bond Framework, which has been given a ‘second party opinion’ from Sustainalytics. The proceeds will be utilized to finance and/or refinance qualified sustainable assignments as described by Burberry’s Sustainability Bond Framework.

The organization has a conservative cash allocation policy and presently retains significant liquidity. Following the outbreak of Covid-19, earlier in the year the organization drew down its £300 million Revolving Credit Facility and issued £300 million of quick-dated business paper less than the Bank of England’s Covid Commercial Financing Facility (CCFF), with a maturity in March 2021. The RCF drawings have been repaid in complete in the to start with quarter of FY 2020/21.

The Bond will rank pari passu with the Debt Facilities. The Bond will be confirmed by the Burberry group entities which also ensure the £300 million Revolving Credit Facility.

The Bond will be available to professional traders and qualified counterparties. Programs will be built for the admission of the Bond to be detailed on the formal listing of the British isles Listing Authority and to be traded on the principal sector of the London Stock Trade.

Fibre2Fashion Information Desk (SV)

Burberry Group plans to problem a benchmark-sized, medium-dated, sterling general public Sustainability Bond – the to start with sustainability labelled bond issued by a luxurious organization. It will diversify Burberry’s sources of funding, introducing long-expression financing into the firm’s cash structure. The proceeds will be utilized to finance qualified sustainable assignments.