Finance, Industrial - October 8, 2020
Arkema places inaugural Green Bond for 300M euros
Arkema announced Oct. 7 that it placed its first-ever Green Bond that will finance its new world-scale plant in Singapore.
The 300 million euro Green Bond will allow the global chemicals and materials company to complete the new plant featuring technology to maximize efficiency and minimize environmental impact while producing its 100% bio-based amino 11 monomer and Rilsan polyamide 11 from castor oil, a renewable and sustainable feedstock.
“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,” Virginie Delcroix, vice president of Sustainable Development at Arkema, said in a statement.
The new plant is scheduled to come online in 2022. The bond has a maturity of six years and an annual coupon of 0.125%.
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