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Telefónica will issue sustainable bonds in Brazil for almost 640 million

One of the sustainable criteria will be to increase the percentage of black managers in the company from the current 19.

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Telefónica will issue sustainable bonds in Brazil for almost 640 million

One of the sustainable criteria will be to increase the percentage of black managers in the company from the current 19.4% to 24% in December 2023 and 30% in December 2025.

Telefónica Brazil has announced the issuance of sustainable bonds for 3,500 million reais (slightly less than 640 million euros at current exchange rates) maturing in three and five years.

This is the seventh issue of these characteristics made by the Brazilian subsidiary of the Spanish company and these obligations will not be convertible into shares, as the operator has specified in a statement.

The company will issue the bonds on July 12 with a first tranche of 1,500 million reais (273 million euros) maturing in July 2025 and a second tranche of 2,000 million reais (364 million euros) due in July 2027. as the month of maturity of the debt.

One of the sustainable criteria will be to increase the percentage of black managers in the company from the current 19.4% to 24% in December 2023 and 30% in December 2025.

While the second criterion will consist of reducing greenhouse gas emissions from 63,018 tons to 54,400, in 2023 and 43,500, in 2025.

Telefónica continues to apply its debt conversion strategy to sustainable criteria in all its markets after having closed similar operations this year at group level and in Colombia.

The firm's objective is that 10,000 million euros of its debt be subject to sustainability criteria in the coming years.

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