Umicore announced on Friday that it had successfully placed 499 million euros of sustainable bonds, i.e. linked to its progress in decarbonization.

The Belgian materials, chemicals and metallurgy group points out that the transaction was largely oversubscribed, which it believes testifies to the interest shown by institutional investors.

The securities, placed with 17 institutional investors in Europe and North America, are made up of several tranches with maturities ranging from seven to 12 years.

Their interest rate will be directly linked to the company's progress in achieving its sustainability ambitions, starting with its goal of zero net emissions of scopes 1 and 2 greenhouse gases by 2035.

For the record, Umicore has set itself the intermediate targets of reducing its scopes 1 and 2 emissions by 20% by 2025 and 50% by 2030.

The proceeds of the offering are to be used for refinancing and general corporate purposes, including the financing of its '2030 Rise' strategy focused on cleaner transport, advanced high-tech materials and circularity through recycling.

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