Pilgrim’s Pride issues US$1B sustainability-linked bond as Vertical Farmer AeroFarms gears up for public listing

US – American multinational food company Pilgrim’s Pride has announced a US$1 billion sustainability-linked bond tied to the company’s Sustainability Performance Target (SPT) of reducing its greenhouse gas emissions by 30% by 2030. Bloomberg reports that the interest rate on Pilgrim Pride’s new bond will climb 25 basis points if the company fails to prove through a third-party verification service that it hit its sustainability targets. The new US$1 billion sustainability-linked bond can be interpreted as Pilgrim’s Pride attempt to put its money where its mouth is when promising improved…

Read More