Xylem closes $1 billion inaugural green bond
The proceeds will fund green projects that help improve water accessibility, water affordability and water systems resilience.
“Solving the world’s toughest water challenges already puts sustainability at the heart of our business, and this bond offering brings sustainability to the center of our funding strategy,” said Mark Rajkowski, Xylem’s chief financial officer. “We’re very pleased by the market’s enthusiastic interest in the bond. It both expands liquidity at attractive rates and provides funding capacity for green projects that are important to our customers, employees, shareholders and communities.” The green bond offering builds on the strength of the Company’s sustainability track-record, and aligns with its ambitious 2025 sustainability goals, which include the commitment to save more than 16.5 billion cubic meters of water through the use of advanced technologies.
The eligible projects Xylem will invest in are further described in the Company’s Green Finance Framework and are in alignment with the United Nations Sustainable Development Goals. These eligible projects include eco-efficient- and/or circular economy-adapted products, production technologies and processes, and solutions that advance sustainable water and wastewater management, including communities’ resiliency against the impacts of climate change.
“Technology is playing an increasingly important role in solving water issues and stewarding society’s shared water resources,” said Claudia Toussaint, Xylem’s general counsel and chief sustainability officer.
“Xylem, with its long history of innovation, is applying the powerful capabilities of digital technology, integrated management and data analytics to make water systems more eco-efficient and sustainable. When we create more positive sustainability outcomes, we generate economic value while also creating value for society.”