Samsung Card’s credit cards (Samsung Card)
South Korean credit card company Samsung Card said Tuesday that it had issued foreign currency asset-backed securities linked to environment, social and governance projects.
The new securities with an average of five-year maturity total $300 million in value. French banking firm BNP Paribas is one of the main investors.
Capital raised through the latest securities issuance will be utilized to beef up ESG-based business operations, the card issuer said.
The card business arm of Samsung Group has completed a certification process via global ESG research firm Sustainalytics to issue the ESG securities.
“Investors’ interests toward ESG have been growing in the domestic and foreign financial markets, and Samsung Card is trying to diversify its portfolio to raise capital, for example, by issuing ESG bonds and securities,” a Samsung Card official said.
The card company has set up a committee for sustainable business management, and an ESG division while running a series of campaigns to support social enterprises.
By Kim Young-won (email@example.com)