Sydney Airport, Australia’s busiest airport, has raised nearly A$600 million ($397 million) from a multi-tranche U.S. private placement, which includes the first ESG-linked issuance into the 30-year-old U.S. Private Placement (USPP) market, according to Reuters.
The capital raise comprises a A$100 million ($66 million) 20-year sustainability-linked bond, a A$220 million ($145 million) 20-year bond and A$120 million ($79 million) 30-year bond. Sydney Airport also sold US $50 million and €50 million ($54 million) of 15-year bonds in the USPP market.
“Our sustainability-linked tranche reinforces our commitment to sustainability leadership and provides additional motivation to drive further improvement in our sustainability performance,” said Greg Botham, CFO of Sydney Airport.
Mitsubishi UFJ Financial Group (MUFG), acted as joint lead placement agent and ESG structuring agent for Sydney Airport, according to Aviation News. The market for