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Starbucks issues first Corporate Sustainability Bond

Funding will support ethical coffee-sourcing program

Starbucks Corp. is using proceeds from the offering of a $500 million bond to enhance its sustainable coffee-growing program.

The Seattle-based chain said Monday that it has closed an underwritten public offering of senior notes, including the first-ever U.S. Corporate Sustainability Bond.

The 10-year, 2.45-percent senior notes will support Starbucks’ goals of ensuring that coffee purchases come from ethical sources verified by a third party.

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