Linklaters has advised Eramet on the new issuance of its sustainability-linked bonds (SLBs) in a principal amount of €500 million, with a 5-year maturity and an annual interest rate of 6.50 per cent. and on its concurrent tender offer to repurchase for cash its outstanding bonds due May 2025.
This bond issue is linked to two sustainability performance targets which are (i) the reduction by 37 per cent. of the annual Scope 1 and Scope 2 greenhouse gas emissions intensity of the Eramet Group on 31 December 2026 compared to such emissions in 2019 and (ii) the increase to 67 per cent. of the share of its suppliers and its customers by emissions having decarbonisation targets for their own 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 are admitted to trading on the regulated market of Euronext in Paris.
The Linklaters team advising Eramet was composed of Véronique Delaittre, partner, Antoine Galvier and Elise Alperte, managing associates, Nicolas Courteville, associate, as well as Tax team composed of Alexandra Mourlon, managing associate, and Wassim Mokadem, associate.
