Burberry Group Plc’s £300 Million Sustainability Bond Offer

Slaughter and May and Slaughter and May Hong Kong advised Burberry Group Plc on the transaction.

Burberry issued a £300 million 5-year sustainability bond (Bond). The Bond will be admitted to trading on the regulated market of the London Stock Exchange.

The Bond is the first sustainability labelled bond issued by a luxury fashion company and will diversify Burberry’s sources of funding, introducing long-term financing into Burberry’s capital structure. The proceeds of the Bond will be used to finance and/or refinance eligible sustainable projects as described by Burberry’s Sustainability Bond Framework.

HSBC, JPM, Natwest and Societe Generale acted as Joint Lead Managers for the Bond and Lloyds and MUFG were appointed as passive bookrunners. JPM acted as the sustainability structuring agent.

Slaughter and May worked closely with the in-house legal team at Burberry, including Edward Rash (General Counsel) and Glenda O’Hara (Principal Counsel).

Slaughter and May’s team included Matthew Tobin (Picture), Partner, James Costi, Associate, Rebecca Sloan, Associate, Stuti Sarin, Associate, Mike Lane, Partner, Peter Brien, Partner and Ariad Porat, Associate.

Involved fees earner: Peter Brien – Slaughter and May; James Costi – Slaughter and May; Mike Lane – Slaughter and May; Ariad Porat – Slaughter and May; Stuti Sarin – Slaughter and May; Rebecca Sloan – Slaughter and May; Matthew Tobin – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Burberry;