Bell Canada Adds Sustainability-Linked Pricing to Securitization Program
By Robb M. Stewart
Bell Canada has added sustainability-linked pricing to its existing 2.3 billion Canadian dollars ($1.7 billion) securitization program that will adjust the communications company's financing cost based on two greenhouse gas targets.
The change to the securitization program will introduce annual pricing adjustments that reduce or increase the financing cost based on annual targets for reducing absolute scope one and two greenhouse gas emissions 58% by 2030 from a 2020 base year and reaching 64% of its suppliers by spending having science-based targets by 2026.
Bell, which is owned by BCE, said the amendments are part of a focus on environmental, social and corporate governance efforts and follow the company's inaugural C$500 million sustainability bond offering in May 2021, conversion of C$3.5 billion committed credit facilities to a sustainability-linked loan in November 2022, and its first sustainability-linked derivatives in May 2023.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
September 27, 2023 08:37 ET (12:37 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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