Jacobs Issues $500M Sustainability Bonds

Jacobs has closed its first offering of $500 million in senior unsecured notes due in 2033 through its newly published Sustainability-Linked Bond Framework.

This Framework was created as a significant component of Jacobs' sustainable business strategy, PlanBeyond 2.0℠, launched in the summer of 2021. This offering represents a significant milestone in Jacobs' efforts to integrate sustainability into its financing strategy.

The bonds issued by Jacobs have interest rates that are linked to the company's pledge to increase gender diversity in leadership roles and reduce greenhouse gas emissions, as detailed in the Sustainability-Linked Bond Framework. Jacobs' commitment to environmental, social, and governance (ESG) initiatives is deeply rooted in its values and culture as it works to build a more connected, sustainable world. This offering strengthens Jacobs' position as a leader in sustainability.

Jacobs CFO Kevin Berryman said, "As part of our PlanBeyond 2.0 business strategy, we developed six Sustainable Business Objectives to sit at the heart of our company strategy, and this offering, which follows the refinancing of our credit facilities as sustainability-linked loans, was the next step in our journey. This new Framework demonstrates our commitment to incorporating inclusion, innovation, and inspiration into the very fabric of the company, defining our aspirations for how we as an organisation and as individuals can each play a part in creating a sustainable future for all."

Jacobs released its Sustainability-Linked Bond Framework and enlisted S&P Global Ratings to provide a Second Party Opinion on its adherence to the Sustainability-Linked Bond Principles. The bonds were issued by Jacobs Engineering Group Inc. and are backed by a full guarantee from Jacobs. The funds raised will be used to pay off a portion of the outstanding balance on Jacobs' revolving credit facility.

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Source: PRNewswire