This week, French specialty chemicals and advanced materials giant Arkema successfully placed its first ever Green Bond fully dedicated to the financing of its new ‘world-scale’ plant in Singapore to manufacture 100% bio-based Rilsan polyamide 11. For a total amount of €300 million, this Green Bond has a maturity of 6 years and an annual coupon of 0.125%. The offering was more than 10 times oversubscribed.
By offering solutions to its customers, notably in the field of lightweight materials, new energies and bio-based products, Arkema aims to generate responsible growth contributing to the Sustainable Development Goals defined by the United Nations.
With this Green Bond, comparatively rare in the bioeconomy, is aligned with Arkema’s CSR policy, the Group is financing its new world-scale plant in Singapore, a major innovative and sustainable project at the heart of its organic growth strategy. This plant, scheduled to come on stream in 2022, is designed with state-of-the-art technology in order to maximize its efficiency and minimize its environmental impact, and will be dedicated to producing 100% bio-based amino 11 monomer and Rilsan polyamide 11 from castor oil, a renewable and sustainable feedstock.
Rilsan polyamide 11 is recognized worldwide for its properties and performance in demanding applications, significantly contributing to the development of sustainable solutions in fast growing sectors, such as mobility and in particular new energy vehicles, 3D printing as well as consumer goods.
Virginie Delcroix, VP Sustainable Development, Arkema said of the announcement; “Thanks to this Green Bond, Arkema gives investors the opportunity to contribute to the development of sustainable solutions in specialty materials, and confirms its leadership in terms of sustainability and innovation.”
Arkema’s Green Bond framework is aligned with the ICMA’s Green Bond Principles as set out in a Second Party Opinion provided by Vigeo Eiris, a leading independent provider ESG ratings agency.
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