Chicago, Sept. 2 – Holcim US Finance Sarl & Cie SCS sold $100 million of 2.24% sustainability-linked notes due Oct. 15, 2031 (Baa2/BBB), according to a term sheet.
The notes are guaranteed by Holcim Ltd.
Interest will be tied to a sustainability-linked trigger event.
The sustainability performance target is a carbon intensity of 475 kilograms of net carbon dioxide per ton of cementious material per reporting year, to be measured on Dec. 31, 2030.
The sustainability-linked step-up margin is 150 bps.
Managers for the Regulation S notes were Morgan Stanley & Co. International plc and NatWest Markets plc.
Holcim, based in Zug, Switzerland, manufactures building materials.
| Issuer: | Holcim US Finance Sarl & Cie SCS
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| Guarantor: | Holcim Ltd.
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| Issue: | Sustainability-linked notes
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| Amount: | $100 million
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| Maturity: | Oct. 15, 2031
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| Bookrunners: | Morgan Stanley & Co. International plc and NatWest Markets plc
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| Coupon: | 2.24%
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| Price: | Par
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| Yield: | 2.24%
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| Call features: | Non-callable
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| Trade date: | Aug. 31
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| Settlement date: | Sept. 2
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| Ratings: | Moody’s: Baa2
|
| S&P: BBB
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| Distribution: | Regulation S
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| ISIN: | XS2382209125
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