Pinsent Masons Advises Umicore on its € 591 Million Sustainability-Linked Note Fundraising
Pinsent Masons is a multinational law firm that recently advised various institutional investors concerning Umicore's €591 million sustainability-linked note fundraising.
Umicore is a leading company in the field of circular materials technology. It focuses on material science, chemistry, and metallurgy. The company is known for its expertise in recycling and sustainable material solutions.
The €591 million fundraising relates to the private placing of notes with more than 15 institutional investors. By linking the coupon of the notes to Umicore's progress towards its carbon neutrality goals, the deal ties the group's funding to its sustainability performance. This is in line with Umicore's "Let's go for Zero" sustainability ambitions, which include achieving carbon neutrality. This fundraising effort is likely a way for the company to secure funding while also demonstrating its commitment to sustainability.
The Pinsent Masons team advising on the transaction was led by Financial Services partner Edward Sunderland.
Edward Sunderland said: “This is a great example of sustainability being at the heart of strategic investments, and we can only see this trend continuing. Umicore is a fantastic business with an ambitious sustainability target of reaching carbon neutrality in 2035, and we look forward to continuing to advise the investors and supporting their plans and ambitions for the future.”
Source: Pinsent Masons