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AnalysisSustainable InvestingThe WrapThe Green Sheet

Citi structures $72 million note tied to Applied Carbon biochar credits

Nuveen participated in the transaction, announced October 22.

By The Wrap desk2 sources11 min read

At a glance

  1. Investor returns are directly exposed to the volume and delivery of biochar carbon credits from the Texas facility, not the issuer's general creditworthiness.
  2. The note is a structured note, not a green bond with proceeds earmarked for a specified use.
  3. If the project delivers fewer credits, noteholders receive less.

Citi has structured a $72 million note tied to carbon credits from Applied Carbon's Texas biochar project, with investors forgoing a conventional coupon for payments tied to the credits, ESG Today reported. Nuveen participated, and the transaction was announced October 22.

Investor returns are directly exposed to the volume and delivery of biochar carbon credits from the Texas facility, not the issuer's general creditworthiness. The note is a structured note, not a green bond with proceeds earmarked for a specified use. If the project delivers fewer credits, noteholders receive less.

Reported by The Wrap desk from ESG Today and Daily Network tracking. Published . Corrections

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Citi structures $72 million note tied to Applied Carbon biochar credits — Private Wealth Daily