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Latham & Watkins Advises Underwriters in Mastercard’s US$600 Million Sustainability Bond and US$700 Million Senior Notes Offering

March 4, 2021
Transaction builds on Mastercard’s pledge to achieve net zero emissions by 2050 and commitment to bring 1 billion people and 50 million small businesses into the digital economy by 2025.

Mastercard has announced that it has successfully priced a US$600 million Sustainability Bond due 2031 at a fixed rate of 1.90% and a US$700 million Senior Notes due 2051 at a fixed rate of 2.95%. The Sustainability Bond further supports the company’s work to build an inclusive and sustainable digital economy through commercially sustainable social impact. Mastercard’s global commitments include reaching net zero emissions by 2050 and bringing 1 billion people and 50 million small businesses into the digital economy by 2025. The proceeds from the 2051 Senior Notes will be used for general corporate purposes.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Stelios Saffos, Andrew Baker, and Jason Ewart, with associates Jonathan Guest and Egzon Sulejmani. Advice was also provided on tax matters by New York partner Elena Romanova, with associate Sam Yang.