July. 26. 2021
SK Ecoplant attracts W1.12 tril for ESG bond in demand forecast
|SK Ecoplant’s corporate image / Courtesy of SK Ecoplant|
By Kim Jae-heun
SK Ecoplant has once again guaranteed another successful offering of its corporate bond specializing in environmental, social and corporate governance (ESG) principles.
The construction firm said Monday about 1.12 trillion won was collected for the corporate bond during the demand forecast held last Thursday. SK Ecoplant originally planned to raise only 150 billion won, but ended up collecting seven times that amount.
The positive response confirmed the faith of the financial market in SK Ecoplant’s transition to a green company, after it declared its intent to become Asia’s top environmental enterprise in May.
The construction firm decided to increase the 300 billion won total for the corporate bond it will issue on Thursday, reflecting the result of its demand forecast that recorded the competition of 7.5 to 1.
SK Ecoplant offer two ESG bonds, one with two years of maturity raising 100 billion won and another with three years of maturity collecting 200 billion won. The latter is its Sustainability Bond, which combines its Green Bond that invests in ecofriendly projects and its Social Bond program that creates social value.
The company plans to use the funds raised from the ESG bonds to acquire eco-friendly firms, invest in green buildings and support mutual growth with business partners.
SK Ecoplant has been speeding up its ESG management drive in the past couple of months by promoting environmental and new energy businesses.
It has already taken over five green firms including Environmental Management Corporation, the country’s largest environmental platform operator, and four waste disposal firms in the Chungcheong provincial region.
Meanwhile, the company is continuing to promote businesses in hydrogen fuel cells, RE100 and offshore wind power to accelerate the supply of renewable energy and contribute to the group’s ultimate goal of carbon neutrality.
SK Ecoplant will invest 3 trillion won by 2030 to develop new eco-friendly businesses and acquire innovative firms while establishing the One Team Operation platform with various stakeholders.