Reported 6 months ago
Thai Union Group Pcl, the owner of Red Lobster Management LLC, has lowered the coupon rates on its sustainability-linked bonds after meeting three ESG targets, including emissions goals. This move affects 11 billion baht ($300 million) of securities and is unique in the SLB market where issuers usually face penalties for missing targets. The company's achievement signifies a significant step in the growing market for bonds tied to environmental, social, and governance objectives, with investors closely monitoring outcomes that could impact bond prices. Thai Union's ESG accomplishments include maintaining high rankings in sustainability indexes, reducing carbon emissions, and increasing the usage of sustainable tuna sources.
Source: YAHOO