Switzerland: LafargeHolcim has launched a Euro850m sustainability-linked bond with a coupon of 0.5% maturing in 2031. It says it is the first bond of its kind in the building materials industry and that it is part of its commitment to reach its 2030 CO2 reduction target.
“We are proud to be the first in our industry to launch a sustainability-linked bond. The order book of Euro2.6bn demonstrates the confidence of investors in the company’s financial strength, strategy and ability to deliver on its sustainability targets,” said Géraldine Picaud, Chief Financial Officer of LafargeHolcim.
Bond investors will be entitled to a higher coupon should the company not meet its objective, incentivising LafargeHolcim to reach its target of 475kg net CO2 per tonne of cementitious material by 2030.
