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LANXESS signs 1bn GHG-linked credit facility

December 06/2019

MOSCOW (MRC) -- LANXESS has signed a EUR1bn "sustainable" revolving credit facility, said the company. 

The facilitys terms depend partly on LANXESS successful reduction of its greenhouse gas (GHG) emissions. The terms are also linked to the increase in the proportion of women on the companys top three management levels.

The sustainable credit facility has an initial term of five years, with two options for one-year extensions. It replaces a syndicated loan of EUR1.25bn expiring in May 2023.

"We are convinced that sustainable criteria are also becoming increasingly important for the capital markets, said chief financial officer (CFO) Michael Pontzen. Last month, LANXESS announced that it will go "climate neutral" and eliminate its greenhouse gas emissions of currently around 3.2m tonnes/year of carbon dioxide (CO2) by 2040.

The credit facility was coordinated by Deutsche Bank and UniCredit.

As MRC informed earlier, LANXESS envisages an extensive range of potential applications for blow-molded components made from technical plastics in automobiles.

LANXESS is a leading specialty chemicals company with sales of EUR 7.2 billion in 2018. The company currently has about 15,500 employees in 33 countries and is represented at 60 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Lanxess.
Category:General News
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