Giant Chemicals Maker Dow Debuts Green Bonds to Slash Emissions
- Company’s subsidiary sold debt in as many as two parts
- Proceeds to fund eligible projects, including Alberta facility
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Dow Inc., a maker of plastics for packaging, has tapped the green-bond market for the first time to borrow $1.25 billion as it looks to reduce its carbon emissions and plastic waste.
It sold the bonds in two parts through its Dow Chemical Co. subsidiary, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year security, yields 1.3 percentage point above Treasuries, after initial talks in the area of 1.6 percentage point, said the person, who asked not to be identified as the details are private.