Linklaters advises Eramet on its inaugural Sustainability-Linked Bond issuance and on a tender offer targeting its outstanding bonds due 2024

Linklaters has advised Eramet on the issuance of its inaugural sustainability-linked bonds (SLB) in a principal amount of €500 million, with a 5-year maturity and an annual interest rate of 7 per cent. and, concurrently, on its tender offer to repurchase for cash its outstanding bonds due February 2024.

This inaugural bond issue is linked to two sustainability performance targets which are (i) the reduction by 35 per cent. of the annual Scope 1 and Scope 2 greenhouse gas emissions intensity of the Eramet Group on 31 December 2025 compared to such emissions in 2019 and (ii) the increase to 67 per cent. of the share of its suppliers and its customers by emissions having decarbonisation targets consistent with the well-below 2° Celsius scenario of the Paris Agreement, on 31 December 2025.

The bonds are admitted to trading on the regulated market of Euronext in Paris. 

Eramet has repurchased for cash €143.3 million in principal amount of its outstanding bonds due February 2024.

The Linklaters team advising Eramet was composed of Capital Markets partner Véronique Delaittre, partner Colin Chang, managing associates Antoine Galvier and Elise Alperte, as well as Tax managing associate Nadine Eng.