Starbucks Corp. said Friday that it will issue the first yen-dominated corporate sustainability bond. The proceeds will total 85 billion yen (about $754 million) in 0.372% senior notes due 2024, and the coffee company will use the money to fund sustainability projects in its supply chain. Starbucks Chief Financial Officer Scott Maw said Japan is “a significant and strategically important global market” for the company, as well as its first international market. Starbucks offered its first U.S. sustainability bond in May 2016. Starbucks shares are up 1.7% in Friday trading, but down 6.4% for the past year. The S&P 500 index is up 16.7% for the last 12 months.
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