Chanel’s green commitment: 600 million euros from bonds, 35 for clean energy

Chanel’s green commitment: 600 million euros from bonds, 35 for clean energy

A financial support source along with an early investment. Chanel’s green commitment results in two pieces of news, which have followed one another quite shortly. First, the French fashion brand allocated on the market some bonds, whose value amounts to 600 million euros: such bonds are strictly related to the achievement of a few green goals. Afterwards, they announced a forthcoming 35-million-dollar investment in clean energy in California.

Chanel’s green commitment

Like we said above, the overall value of the bonds issued by Chanel amounts to 600 million euros. They will expire in 5 and 10 years. The fashion house has taken things extremely seriously: in fact, if by chance they failed to achieve their green goals, they have pledged to pay the five-year bonds 100.50% of their nominal value and the ten-year ones 100.75%. “On annual basis – pointed out -, additional profits will supposedly amount to 0.10% and 0.075% respectively”. Although we are not talking about astonishing figures, they evidence the brand’s good will indeed.

Clean energy

For the records, Chanel have already announced they are about to invest 35 million dollars in a clean energy project to help and support some families, residing in California, who are currently dealing with economic problems. The project, developed in partnership with Sunrun, also includes a set of professional training courses, 20,000 hours in total, directed at photovoltaic system installers.

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