A&O Shearman advises on Eramet's EUR500 million sustainability-linked bond issue

A&O Shearman has advised the banking syndicate on the issuance of sustainability-linked bonds by Eramet, a mining and metallurgical company, for an amount of EUR500 million with a 5.5-year maturity and an annual coupon of 6.5%.

This issuance is linked to two sustainability performance targets which are:

• the reduction by 3%, compared to 2019, of the annual Scope 1 and Scope 2 greenhouse gas emissions intensity of the Eramet Group on 31 December 2026,
• the increase to 67% of the share (by emission) of its suppliers and its customers having decarbonization targets for their own greenhouse gas emissions (scopes 1 and 2) that are consistent with the well-below 2° Celsius scenario of the Paris Agreement or more ambitious, on 31 December 2026.

The A&O Shearman team in France was composed of partner Julien Sébastien, counsel Soline Louvigny and associate Emilie Ferré on international capital markets aspects. Partner Mathieu Vignon and senior associate Virginie Chatté advised on tax aspects.