Voestalpine, an international steel and technology group, has successfully issued its first green corporate bond, raising EUR 500 mln (USD 558 mln). The five-year bond carries a 3.75pct coupon and attracted strong investor demand. Private investors can subscribe from September 26 to October 3, 2024. Proceeds will be used to finance or refinance Voestalpine’s sustainable projects, including its greentec steel initiative.
Voestalpine aims to reduce emissions by 30pct by 2029 by transitioning to electric arc technology using green electricity, making it Austria’s largest climate protection program. CEO Herbert Eibensteiner emphasized that the green bond establishes Voestalpine as a pioneer in the European steel industry’s capital market.
The Voestalpine group, a key supplier of high-quality steel to the automotive, housing, and machinery sectors, also leads in renewable energy products and railway systems. Voestalpine is committed to achieving net-zero emissions in steel production through its greentec steel initiative.
1 USD / 0.89 EUR
