Pandora obtains investment grade credit ratings from Moody’s and S&P and plans to secure EUR 500 million in funding under the programme!
Pandora announces its plan to establish a euro medium term note (EMTN) programme, a framework for issuances of senior unsecured notes. Subject to market conditions, Pandora plans to place an aggregate amount of EUR 500 million senior unsecured notes under the EMTN programme. The proceeds will be used for planned refinancing and for general corporate purposes.
Pandora also announces that it has obtained an issuer credit rating of Baa2 from Moody’s Investor Service and a BBB rating from S&P Global Ratings, both with a stable outlook.
At financing linked to sustainability front, Pandora underpinning the company’s commitment to responsible business practices, the new programme will be linked to Pandora’s sustainability performance when it comes to greenhouse gas emission reductions and procurement of recycled silver and gold.
This is set out in a sustainability-linked finance framework, which has been assessed by Moody’s to be aligned with the Sustainability-Linked Principles by the International Capital Market Association and to have a high contribution to sustainability.
The new EMTN programme will be the third time Pandora links its financing to its sustainability ambitions. It follows a revolving credit facility announced in 2021 and a loan with the Nordic Investment Bank in 2022.
“The new financing programme will allow us to further diversify our funding structure while at the same time linking it directly to our sustainability commitment. Obtaining solid investment grade credit ratings further highlights Pandora’s strong financial profile and attractive cash generation,” says CFO Anders Boyer.
Nordea has acted as ratings and sustainability advisor to Pandora.
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On its 34th anniversary, Hari Krishna Group hosted Master Your Health at Nehru Centre, Worli, Mumbai, where Mr. Atul Shah, Founder of Ojas Life, shared insights on holistic wellness and preventive healthcare
#harikrishnaexports #hkdiamonds #kisnadiamondjewellery #hzinternational
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