ZF raises EUR700m through sustainability bond
By Bradley Osborne - 22nd December 2022
Germany – ZF Friedrichshafen AG, a vehicle systems supplier based in Friedrichshafen, Baden-Württemberg, has announced that it has raised EUR700m on the back of a sustainability bond which it issued to help finance its “Next Generation Mobility” strategy.
The interest rate of the bonded loan is linked to an ESG (Environmental, Social, Governance) rating provided by independent agency EcoVadis, giving ZF a further incentive to invest the money in projects that are beneficial to society and the environment. The total volume of the loan is divided into different tranches with terms of three, five, and seven years. More than 50 different investors in Germany and abroad were involved in the transaction.
