RIO DE JANEIRO, BRAZIL – Bonds tied to sustainability targets have reached the Amazon. Bemol, the largest retail chain in Brazil’s Northern region, has debuted in the debt market with the issuance of a R$200 (US$40) million sustainability-linked bond (SLB).
The retailer’s goal is to secure the B Corporation stamp by January 2024, a certification awarded to businesses that place social and environmental impact at the core of their strategies. Bemol had proposed the certification last year and intended to complete the process between 2022 and 2023.
The 5-year debentures (with a 2-year grace . . .