(Credit: Pixabay)Today, Arkema, a French company, placed its first ever Green Bond and will use the proceeds to finance its new plant in Singapore that will manufacture 100% bio-based Rilsan polyamide 11. For a total amount of €300 million ($353 million), this Green Bond has a maturity of 6 years and an annual coupon of 0.125%. The offering was more than 10 times oversubscribed.
With this Green Bond, Arkema is financing its new plant in Singapore, which is scheduled to come on stream in 2022, and is designed with state-of-the-art technology in order to maximize its efficiency and minimize its environmental impact. According to Arkema, the factory will be dedicated to producing 100% bio-based amino 11 monomer and Rilsan polyamide 11 from castor oil, a renewable and sustainable feedstock.
Arkema says Rilsan polyamide 11 is recognized worldwide for its superior properties and performance in very demanding applications, significantly contributing to the development of sustainable solutions in fast growing sectors, such as mobility and in particular new energy vehicles, 3D printing as well as consumer goods.
Arkema’s Green Bond framework is aligned with the ICMA’s Green Bond Principles as set out in a Second Party Opinion provided by Vigeo Eiris, a leading independent ESG ratings agency.
