Chanel is making its debut on the public markets with a new sustainability bond.
LONDON — Chanel is making its debut on the public markets with a new sustainability bond that will trade on the Luxembourg Stock Exchange.
This is the first time that outside investors have the chance to own a slice of Chanel, which is privately owned and run by the Wertheimer family. HSBC and BNP Paribas acted as joint structuring advisers and joint book runners. Chanel said the money raised will support its goals through investing in start-ups focused on the development of sustainable materials, incentivizing suppliers to convert to renewable energy, and providing direct financial support for new renewable-energy projects at a community level in key regions.
Asked whether these new bonds would be a precursor to more public activity, and specifically an initial public offering, which undoubtedly would be a blockbuster, he said “that’s not on the agenda. We’re happy with the financing we have in place.”In 2019, Chanel acquired a minority stake in the green chemistry company Evolved by Nature as part of its strategy to develop sustainable materials.
He added that the creation of a long-term bond was in step with the seriousness of its commitments to the environment.
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