Clariant announces pricing of first green bond of 175M Swiss francs with 2027 maturity date; company views financing option as key contribution to sustainability across the group

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MUTTENZ , August 25, 2022 (press release) –

  • 2.717 % coupon rate and 2027 maturity
  • Proceeds to be used for Eligible Assets driving sustainable innovation as part of Clariant’s purpose-led strategy
  • Further implementation of 2030 roadmap to achieve science-based targets

Clariant, a focused, sustainable, and innovative specialty chemical company, yesterday successfully priced its first green bond. The CHF 175 million green bond has a coupon of 2.717 % and a 2027 maturity date.

“The green bond issuance under our Green Financing Framework exactly fits our focus on sustainability as part of our purpose-led growth strategy. We view this green financing option as a key contribution to sustainability across the Group, allowing sustainability driven bond investors to participate in the sustainability leadership of our company. Its Swiss franc denomination also underlines our commitment to the Swiss market and fits perfectly in our maturity profile,” said Bill Collins, Chief Financial Officer of Clariant.

An amount equal to the net proceeds from the bond issuance will be allocated to the financing and/or refinancing of investments in Eligible Assets as established by Clariant within its Green Financing Framework. Eligible Assets promote the transition towards a low-carbon and environmentally sustainable society, as determined by Clariant. Proceeds will be allocated to capital expenditures, acquisitions, joint ventures and research and development within the Eligible Asset Categories of this Framework (circular economy adopted products, production technologies and processes and/or certified eco-efficient products, renewable energy and energy efficiency, pollution prevention and control).

This transaction emphasizes Clariant’s sustainability leadership and represents clear progress in the implementation of its 2030 roadmap to achieve its science-based climate targets. The financing and/or refinancing of Eligible Asset with the green bond proceeds will contribute to achieving our ambitious targets. Between 2019 and 2030, Clariant targets a 40 % absolute reduction in scope 1 and 2 greenhouse gas emissions and a 14 % absolute reduction in scope 3 greenhouse gas emissions from purchased goods and services. These science-based targets are accompanied by intensity reduction targets for the key environmental parameters in its operations.

ISS ESG, a leading ESG data and rating provider, gave a second-party opinion confirming the alignment of the framework with Green Bond Principles and Green Loan Principles and the sustainability quality of the eligibility criteria. S&P Global Ratings has granted Clariant’s Green Bond a BBB- rating. 

UBS Investment Bank and Skandinaviska Enskilda Banken (SEB) acted as joint lead managers for this green bond issue. The application for admission to trading on the SIX Swiss Exchange will be submitted. The Green Bond is expected to settle on 26 September 2022.

Disclaimer: This media release constitutes neither an offer prospectus nor a prospectus for admission to trading under the terms of article 35 of the Swiss Financial Services Act (FinSA). This media release is intended solely for information purposes and does not constitute or form part of, and may not be construed as, an offer or invitation to sell securities, the solicitation of an offer to underwrite, subscribe for or otherwise acquire securities or a recommendation regarding any securities. The publication of this media release as well as the offer and sale of securities may be subject to restrictions in certain jurisdictions. Persons who might come into possession of this media release must inform themselves about and comply with any applicable legal or regulatory restrictions. This media release is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.

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