Boparan, the poultry producer, is a long-standing constituent of the iTraxx Xover index and is coming to market with a rare bond deal. This note analyses the deal mechanics from a nature loss perspective.
We find that while the company is taking material steps forward in its sustainability commitments, there is an opportunity for investors to engage with Boparan to uncover more detail on the milestones the company will need to reach along its journey to achieve better deforestation and greenhouse gas reduction outcomes.
