LyondellBasell is getting green bonds

LyondellBasell Industries is launching a public offering of green bonds. The principal of the bonds will be $500 million and will bear a 5.625% interest rate. The proceeds from the bonds will go toward circular economy, renewable energy, pollution prevention, and energy efficiency projects. Green bonds have become popular as a way to connect chemical companies with investors interested in backing sustainability. In March, Air Products raised more than $1.3 billion in two bond offerings that it intends to use for low-carbon ammonia and sustainable aviation fuels, and Eastman Chemical closed a $500 million green bond offering.