As a globally active specialty chemicals company, responsibility and long-term economic success are two sides of the same coin. Sustainability has developed into a growth driver at Evonik. The demand for products with market-superior sustainability benefits - Next Generation Solutions - is developing dynamically. The majority of proceeds will therefore be used to finance investments in Next Generation Solutions. These include, for example, biosurfactants, sustainable food packaging, innovative insulation materials and membranes for gas filtration. Evonik plans to further increase the proportion of sales it generates from Next Generation Solutions in the coming years from 35 percent now.
At the same time, Evonik will further reduce its own ecological footprint. To this end, the company continuously invests in its processes along the entire value chain. The proceeds from the green hybrid bond help Evonik minimize its own resource requirements, for example by financing initiatives to reduce its own CO2 footprint.
'Evonik aims to be a best-in-class specialty chemicals company and our Sustainability Strategy 2020+ is an expression of this aspiration. With the publication of our Green Finance Framework and with this green hybrid issuance we are reflecting our strong commitment to sustainability, also in financing,' said
Attractive investment opportunity for investors in Evonik's hybrid capital with a focus on sustainability
The green hybrid bond was significantly oversubscribed and generated strong interest from a broad circle of institutional investors. Evonik benefited from its good debt capital markets reputation, its attractive sustainability profile and the favorable market environment.
The green hybrid bond has a formal lifetime of 60 years. Evonik has a first redemption right in 2026. It is subordinated to other financial liabilities. In addition to the new green hybrid bond, Evonik announced a tender offer on
By combining the issuance of a new green hybrid bond with a repurchase offer, Evonik can refinance its outstanding hybrid bond at an early stage and offer current investors an attractive opportunity to reinvest in Evonik's hybrid capital with a sustainability focus. The annual interest rate on the green hybrid bond is 1.375 percent per year. This results in interest savings of
COMPANY INFORMATION
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of
DISCLAIMER
This publication constitutes neither an offer to sell nor a solicitation of an offer to buy securities. In particular, this document constitutes neither an offer to sell nor a solicitation of an offer to purchase securities in
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither
Contact:
Phone: +49 201 177 3167
Mobile: +49 152 093 87321
(C) 2021 Electronic News Publishing, source