Cork Supply issued 10 million in sustainable bonds

Cork Supply issued “green” bonds

 

“Sustainability is central to our nature and the way we do business,”
Jochen Michalski, founder of Cork Supply

 

BPI advised CORK SUPPLY on the structuring of a 10-million-Euro sustainable financing operation, consisting of a sustainability-linked Bond Loan, reaching maturity in 2029.

With this operation, CORK SUPPLY consolidates the connection between its financing cost and its sustainability performance, reinforcing and demonstrating its strategic relevance and commitment, at all levels of the organisation, to achieve best-in-class goals in ESG (Environmental, Social and Corporate Governance) indicators.

The financing was carried out under CORK SUPPLY's Sustainability-Linked Bond Framework and is indexed to the goals of:

(i) reducing direct (scope 1) greenhouse gas emissions and indirect (scope 2) greenhouse gas emissions resulting from energy consumption, by at least 35% by 2027, compared to 2022;

(ii) carrying out a minimum of 15 WE CARE initiatives in 2027. CORK SUPPLY's WE CARE programme aims to promote corporate well-being and an organisational culture focused on the employees’ health, safety, and quality of life.