IMERYS (EPA:NK) - Imerys successfully launches its first sustainability-linked bond for €300 million
Transparency directive : regulatory news
06/05/2021 17:45
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PRESS RELEASE
May 6, 2021
Imerys successfully launches its ?rst sustainability-linked bond for EUR300
million
Imerys, the world leader in mineral-based specialty solutions for industry,
today issued a EUR300 million sustainability-linked bond with an annual coupon
of 1% maturing in 2031. With this bond, the Group con?rms it is fully
committed to reducing carbon emissions and to achieving its broader
sustainability ambition.
Sébastien Rouge, Chief Financial O?cer: "We are proud to have issued our
?rst sustainability-linked bond. The success of this operation exceeded our
expectations with an order book in excess of EUR1.3 billion, which corresponds
to an oversubscription of more than 4x. It allows us to optimize our debt
pro?le and, at the same time, to demonstrate the strength of our long term
CSR commitments, in particular in reducing greenhouse gas emissions."
Leah Wilson, Corporate Social Responsibility Vice President: "Climate change is
a global issue and a priority CSR theme for Imerys since 2017. We have already
achieved tangible results thanks to e?orts to integrate climate
considerations into all our processes, for example with the introduction of an
internal carbon price in our capital expenditure projects. The launch of this
Sustainability-Linked Bond is an important milestone in the ramp up of our CSR
program, SustainAgility, by ensuring that our CSR commitment is embedded across
all our business operations and that we are driving continuous improvement."
The target Imerys has committed to achieving is a reduction of its greenhouse
gas emissions by 22.9% in 2025 and 36.0% in 2030 relative to revenue
(tCO2/MEUR) from a 2018 base year, as validated by the Science Based Target
initiative (SBTi). This includes Scope 1 emissions (direct emissions from
sources owned or controlled by Imerys) and Scope 2 emissions (indirect
emissions from the production of electricity, heat or steam imported or
purchased by the Group). Bond investors will receive a premium payment, should
the company not meet its objectives in 2025 and 2030. Imerys will report
annually on its performance against these key objectives in its Universal
Registration Document.
Cicero Shades of Green, a leading provider of Second Opinions on green bond
frameworks, gave a Second Party Opinion (SPO) validating the robustness and
relevance of the company's greenhouse gas emission intensity reduction target
in the context of this bond. They con?rmed the alignment of Imerys'
Sustainability-Linked Financing Framework with the Sustainability-Linked Bond
Principles, which are published by the International Capital Markets
Association (ICMA).
Imerys is rated B by CDP, above the industry average (C), Platinum by Ecovadis,
AA by MSCI and 37th out of 122 by Sustainalytics.
The world leader in mineral-based specialty solutions for industry, with EUR3.8
billion revenue and 16,400 employees in 2020, Imerys delivers high value-added,
functional solutions to diversi?ed set of industrial sectors, from processing
industries to consumer goods. The Group draws on its knowledge of applications,
technological expertise and its material science know-how to deliver solutions
based on bene?ciation of its mineral resources, synthetic minerals and
formulations. These contribute essential properties to customers' products and
performance, including refractoriness, hardness, conductivity, opacity,
durability, purity, lightness, ?ltration, absorption and repellency. Imerys
is determined to develop responsibly, in particular by fostering the emergence
of environmentally-friendly products and processes.
Analyst / Investor Relations
Vincent Gouley -
+33 (0)1 4955 6469
?nance@imerys.com
Press contacts
Claire Lauvernier :
+33 (0)1 4955 6665
Hugues Schmitt (DGM Conseil) :
+33 (0)1 4070 1189