Imerys issues €500M sustainability-linked bond with a 6-year term, with aim to reduce carbon emissions; bond offers investors with a premium payment if decarbonization targets aren't met by end of 2028

Imerys, the world leader in mineral-based specialty solutions for industry, today issued a 6-year maturity €500 million sustainability-linked bond with an annual fixed rated coupon of 4.75% maturing on November 29th 2029. With this new bond, the Group confirms its commitment to reducing carbon emissions and to achieving its broader sustainability ambitions.

Sébastien Rouge, Chief Financial Officer: “The success of this second Sustainability-Linked Bond confirms the financial market's confidence in Imerys’ business model. This new issuance improves our debt maturity profile and, at the same time, reinforces our long term sustainability commitments, in particular with regards to the reduction of our greenhouse gas emissions.”

Leah Wilson, Chief Sustainability Officer: “Climate change is a global challenge and a priority for Imerys. We have already achieved tangible results thanks to efforts to integrate climate considerations into all our processes, including innovation, capital expenditures and M&A. The launch of this Sustainability-Linked Bond, together with the recent validation of our new greenhouse gas emission reduction target in absolute value aligned with a 1.5°C trajectory for 2030 by the SBTi, is an important milestone in our ambitious decarbonisation plan and overarching sustainability program, SustainAgility.”

The target Imerys has committed to achieving is a reduction of its absolute scope 1 and 2 Greenhouse Gas emissions by 32.7% in 2028 (ktCO2eq) from a 2021 base year, consistent with the 2030 SBTi validated pathway. The scope 1 includes direct emissions from sources owned or controlled by Imerys, and scope 2 concerns indirect emissions from the production of electricity, heat or steam imported or purchased by the Group. Bond investors will receive a premium payment in 2029 of 0.75% of the principal amount, should the Group not meet its objectives at the end of 2028. Imerys will report annually on its performance against these key objectives in its Universal Registration Document.

S&P Global, a leading provider of second opinions on sustainable finance frameworks, issued a Second Party Opinion (SPO) confirming the alignment of Imerys’ Sustainability-Linked Financing Framework with the Sustainability-Linked Bond Principles, which are published by the International Capital Markets Association (ICMA) and rating the Group’s sustainability management level as Excellent.
Imerys is rated B by CDP, above the industry average (C), 69 by Ecovadis (Gold medal) and AA by MSCI.

The world’s leading supplier of mineral-based specialty solutions for industry with €4.3 billion in revenue and 14,000 employees in 2022. Imerys delivers high value-added, functional solutions to a great number of sectors, from processing industries to consumer goods. The Group draws on its understanding of applications, technological knowledge and expertise in material science to deliver solutions by beneficiating its mineral resources, synthetic minerals and formulations. Imerys’ solutions contribute essential properties to customers’ products and their performance, including heat resistance, hardness, conductivity, opacity, durability, purity, lightness, filtration, absorption and water repellency. Imerys is determined to develop responsibly, in particular by fostering the emergence of environmentally-friendly products and processes.

More comprehensive information about Imerys may be obtained from its website (www.imerys.com) in the Regulated Information section, particularly in its Registration Document filed with the French financial markets authority (Autorité des marchés financiers, AMF) on March 22, 2023 under number D.23-0127 (also available from the AMF website, www.amf-france.org). Imerys draws investors’ attention to chapter 2 “Risk Factors and Internal Control” of its Registration Document.
Disclaimer: This document contains projections and other forward-looking statements. Investors should be aware that such projections and forward-looking statements are subject to various risks and uncertainties (many of which are difficult to predict and generally beyond the control of Imerys) that could cause actual results and developments to differ materially from those expressed or implied.

Analyst/Investor Relations: 
Cyrille Arhanchiague : +33 (0)1 49 55 64 84
finance@imerys.com

Press contacts:
Mathieu Gratiot : +33 (0)7 87 53 46 60
Hugues Schmitt (Primatice) : + 33(0) 6 71 99 74 58