UMICORE Closes EUR 591M Sustainability-Linked Debt
Umicore SA

Umicore has completed the issuance of fixed-rate, sustainability-linked US private placement notes totalling € 591 million equivalent.
The notes placed with more than 15 institutional investors attracted interest from investors who participated in Umicore’s 2017 and 2019 placements as well as new investors.
The transaction, from which the funds will be taken out in January 2023, is made up of several tranches with maturities ranging from 5 to 12 years for a weighted average maturity of more than 8 years.
This issue further ties the Group's funding to its performance in the area of sustainability. The Notes' interest rate will be directly proportional to Umicore's progress toward the carbon neutrality goals outlined in its "Let's go for Zero" sustainability goals, which were announced in June 2021.
"Let's go for Zero" pledges to achieve carbon neutrality by 2035, with interim goals to cut its Scope 1 & 2 greenhouse gas emissions by 20% in 2025 and 50% by 2030.
Umicore significantly diversifies and extends its funding base, as well as the maturity of its debt at fixed rate conditions, with the successful completion of this private placement offering.
The offering proceeds will be used for general corporate purposes. This includes funding growth projects under Umicore's "2030-RISE" plan in the areas of mobility transformation, rising demand for advanced materials, and circularity.
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Source: Umicore