Pandora is selling the senior unsecured bond with a five-year maturity in what’s been described as ‘additional motivation’ to reach sustainability goals.
The first two goals focus on emission reductions, both its own emissions and those in its value chain, with deadlines in 2025 and 2030. The third goal is to reach 100 per cent use of recycled gold and silver by 2025.
“The successful issuance of our first ever Eurobond underpins our strong financial characteristics and marks an important milestone in our journey, allowing us to further diversify our funding structure,” said Pandora CFO Anders Boyer.
When the bond matures in 2028, Pandora will need to pay more to investors if these three goals are not met.
Pandora recently published its full-year financials for 2022, highlighting a 9 per cent increase in revenue in the fourth quarter.
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