Telefonica completed its latest sustainable bond issue of €1 billion, with the cash earmarked for green network initiatives and social projects, a move the operator asserted reinforced its position as one of the industry’s leaders in this area.
The group plans to use the debt to fund various environmentally-focused projects, including improving energy efficiency in its fixed and mobile networks through deployment of fibre and 5G respectively.
Social projects will be geared towards rural connectivity and encouraging entrepreneurship and generating employment.
Telefonica noted with its latest €1 billion it will meet an objective of acquiring €10 billion of sustainable financing, adding the order book for its most recent issue was oversubscribed by institutional investors.
In its statement, Telefonica highlighted it had been an industry pioneer for raising environmental, social and governance (ESG) funds when it sold its first green bond in 2019.
It has since made several related placements and refinanced €5.5 billion of existing debt under environmental criteria.Subscribe to our daily newsletter Back