The company hopes to raise R1.1-billion from the sale of the three-year and five-year bonds, to be used to finance the company’s women empowerment goals such as boosting discretionary procurement spend on black women suppliers to reach or exceed 15% of its total procurement spend. Barloworld also aims to reach or exceed 50% female representation in its leadership by 2025.
Valdene Reddy, the JSE’s director of capital markets, says she hopes that more issuers will follow the lead of Barloworld and list gender-linked bonds on the JSE to support women empowerment and gender equality.number of sustainability instruments listed on the JSE’s Sustainability Segment to 47, raising the segment’s market capitalisatioThe JSE launched the Sustainability Segment two years ago to provide a platform for companies to raise debt for green, social and other sustainable initiatives.
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