Eramet: Successful issue of €500 million sustainability-linked
bonds
Paris, 23 May 2024, 6:00 p.m.
PRESS RELEASE
Eramet: Successful issue of €500 million
sustainability-linked bonds
Eramet announces today the successful issue of
sustainability-linked bonds in a principal amount of €500 million
and with a 5.5-year maturity and an annual coupon of 6.5 per cent
(the “Bonds”).
The Bonds have been very well welcomed by a
diversified base of institutional investors in France and abroad.
The order book, more than 3 times subscribed, reflects the strength
of the Group’s fundamentals, its growth and its prospects.
Eramet’s new sustainability linked-bond is
aligned with the new Sustainability-Linked Financing Framework
which is available on the website of the Company1. The Bonds are
linked to two sustainability performance targets which are:
(i) the
reduction by 37 per cent, compared to 2019, of the annual Scope 1
and Scope 2 greenhouse gas emissions intensity of the Eramet Group
on 31 December 2026,
(ii) the
increase to 67 per cent of the share (by emission) of its suppliers
and its customers having decarbonization targets for their own
greenhouse gas emissions (scopes 1 and 2) that are consistent with
the well-below 2° Celsius scenario of the Paris Agreement or more
ambitious, on 31 December 2026.
The Bonds, scheduled for settlement on 30 May
2024, are expected to be admitted to trading on the regulated
market of Euronext in Paris and rated Ba2 by Moody’s and BB by
Fitch.
DISCLAIMER
This press release does not constitute an offer
to subscribe to the Bonds in or from any country or jurisdiction to
whom or in which such offer would be unlawful under the applicable
laws and regulations.
This press release is not a prospectus for the
purposes of the Regulation (EU) 2017/1129 (as amended, the
“Prospectus Regulation”).
The issue of the Bonds is not being subject to a
public offering in any country or jurisdiction, including in
France, to any person other than qualified investors (as defined in
article 2(e) of the Prospectus Regulation).
The distribution of this press release may be
restricted by law in certain jurisdictions. Persons into whose
possession this press release comes should inform themselves about
and observe any applicable legal and regulatory restrictions.
The Bonds will only be offered outside the
United States pursuant to “Regulation S” under the U.S. Securities
Act of 1933, as amended (the “Securities
Act”), subject to prevailing market and other conditions.
Bonds have not been registered under the Securities Act or the
securities laws of any other jurisdiction and may not be offered or
sold in the United States or to, or for the account or benefit of,
U.S. persons (as defined in “Regulation S” under
the Securities Act) (the “U.S. Persons”) absent
registration or unless pursuant to an applicable exemption from the
registration requirements of the Securities Act and any other
applicable securities laws. This press release does not constitute
an offer to sell or the solicitation of an offer relating to the
Bonds, nor shall it constitute an offer, solicitation or sale in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
The Bonds are not intended to be offered, sold
or otherwise made available to and should not be offered, sold or
otherwise made available to any retail investor in the European
Economic Area (the “EEA”). For these
purposes, a “retail investor” means a person who
is one (or more) of: (i) a retail client as defined in point (11)
of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID
II”); (ii) a customer within the meaning of Directive (EU)
2016/97, as amended, where that customer would not qualify as a
professional client as defined in point (10) of Article 4(1)
of MiFID II; or (iii) a person who is not
a qualified investor within the meaning of Article 2(e)
of the Prospectus Regulation.
The Bonds are not intended to be offered, sold
or otherwise made available to and should not be offered, sold or
otherwise made available to any retail investor in the United
Kingdom. For these purposes, a “retail
investor” means a person who is one (or more) of the
following: (i) a retail client, as defined in point (8) of Article
2 of Regulation (EU) No. 2017/565 as it forms part of domestic law
by virtue of the European Union (Withdrawal) Act 2018
(the “EUWA”); (ii) a
customer within the meaning of the provisions of the Financial
Services and Markets Act 2000 (as amended, the
“FSMA”) and any rules or regulations made
thereunder to implement Directive (EU) 2016/97, where that customer
would not qualify as a professional client, as defined in point (8)
of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of
domestic law by virtue of the EUWA; or (iii) a person who is not a
qualified investor as defined in Article 2 of Regulation (EU)
2017/1129 as it forms part of domestic law by virtue of the
EUWA.
This press release does not constitute and shall
not, in any circumstances, constitute a public offering nor an
invitation to the public in connection with any offer within the
meaning of the Prospectus Regulation or otherwise.
In the United Kingdom, this press release is
directed only at persons who (i) have professional experience in
matters relating to investments falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005, as amended (the “Financial Promotion
Order”), (ii) are persons falling within Article 49(2)(a)
to (d) of the Financial Promotion Order or (iii) are other persons
to whom it may lawfully be communicated (all such persons together
being referred to as “Relevant Persons”). The
issue of the Bonds is only available to, and any invitation, offer
or agreement to subscribe, purchase or otherwise acquire the Bonds
will be directed only to Relevant Persons.
MiFID II professionals/ECPs-only/ No PRIIPs KID
– Manufacturer target market (MIFID II product governance) is
eligible counterparties and professional clients only (all
distribution channels). No PRIIPs or UK PRIIPs key information
document (KID) has been prepared as not available to retail
investors in EEA and in the United Kingdom.
Calendar
30.05.2024: Shareholders’ General Meeting
25.07.2024: Publication of 2024 half-year results
24.10.2024: Publication of 2024 Group third-quarter turnover
ABOUT ERAMET
Eramet transforms the Earth’s mineral resources
to provide sustainable and responsible solutions to the growth of
the industry and to the challenges of the energy transition.
Its employees are committed to this through
their civic and contributory approach in all the countries where
the mining and metallurgical group is present.
Manganese, nickel, mineral sands, lithium, and
cobalt: Eramet recovers and develops metals that are essential to
the construction of a more sustainable world.
As a privileged partner of its industrial
clients, the Group contributes to making robust and resistant
infrastructures and constructions, more efficient means of
mobility, safer health tools and more efficient telecommunications
devices.
Fully committed to the era of metals, Eramet’s
ambition is to become a reference for the responsible
transformation of the Earth’s mineral resources for living well
together.
www.eramet.com
INVESTOR
CONTACTDirector of Investor
RelationsSandrine Nourry-DabiT. +33 1 45
38 37 02 sandrine.nourrydabi@eramet.com |
PRESS
CONTACTMedia Relations
ManagerFanny MounierT. +33 7 65 26 46
83fanny.mounier@eramet.com |
1 Please refer to the following for further information:
Sustainability-linked Financing Framework - Eramet
- 23 05 2024 - Eramet - Successful issue of €500 million
sustainability-linked bonds - PR
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