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Henkel successfully issued sustainability-linked bonds with a volume of 720 million euros

11/11/2021 | 08:17am EST

Nov 11, 2021Düsseldorf / Germany

First bonds issued under new Sustainable Finance Framework

Henkel successfully issued sustainability-linked bonds with a volume of 720 million euros

Following the introduction of its new "Sustainable Finance Framework" just over a month ago, Henkel has now issued the first two sustainability-linked bonds under this framework. A bond with a volume of 500 million euros, a maturity of eleven years and an interest rate of 0.5 percent was issued, as well as a bond with a volume of 250 million US dollars (equivalent to approx. 220 million euros), a maturity of five years and an interest rate of 1.8 percent. This makes Henkel the first company in its sector to place a euro sustainability-linked bond. With the sustainability-linked-US dollar bond, Henkel is also the first issuer ever in the Eurodollar market. The proceeds of the issue are to be used for general corporate purposes, including the refinancing of a bond that became due.

"The placement of the two bonds once again underpins our commitment and pioneering spirit in the area of sustainable financing. At the same time, this issuance reaffirms our commitment to achieving our sustainability goals. The Henkel Finance organization has also set itself the goal of actively driving sustainability," said Henkel CFO Marco Swoboda. "The successful transaction demonstrates once more our company's high credit quality and its excellent access to the capital markets."

The financing costs for the bonds are linked to the achievement of Henkel's sustainability targets, as defined in the Sustainable Finance Framework. Therefore, Henkel has defined three different KPIs and specific targets. This involves reducing CO2 emissions on the one hand and increasing the proportion of recycled plastic in plastic packaging on the other. Two of the three defined performance indicators are used for each bond. If one or both performance indicators are not met, the interest rate is adjusted. With the performance indicators set, Henkel has already covered all defined performance indicators with its first issuance under its Sustainable Finance Framework.

The placement of the euro bond was supported by ING, Société Générale, Deutsche Bank and HSBC, the US dollar bond by ING, Société Générale and Deutsche Bank.

Henkel implemented innovative solutions in the area of Sustainable Finance at an early stage. In 2018, Henkel was the first company in Germany and worldwide in its industry to conclude a syndicated 'sustainability-linked loan', a credit facility linked to Henkel's performance in three independent sustainability ratings. In July 2020, Henkel became the first company worldwide to issue a plastic waste reduction bond, the proceeds of which are specifically allocated to projects and expenditures to reduce plastic waste.

This information contains forward-looking statements which are based on current estimates and assumptions made by the corporate management of Henkel AG & Co. KGaA. Statements with respect to the future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe", "estimate", and similar terms. Such statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and results actually achieved by Henkel AG & Co. KGaA and its affiliated companies depend on a number of risks and uncertainties and may therefore differ materially from the forward-looking statements. Many of these factors are outside Henkel's control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. Henkel neither plans nor undertakes to update any forward-looking statements.

This document includes - in the applicable financial reporting framework not clearly defined - supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Henkel's net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.

This document has been issued for information purposes only and is not intended to constitute an investment advice or an offer to sell, or a solicitation of an offer to buy, any securities.


Henkel AG & Co. KGaA published this content on 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 13:16:03 UTC.

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Carsten Knobel Chairman-Management Board
Marco Swoboda Chief Financial Officer & Executive VP-Finance
Simone Bagel-Trah Member-Supervisory Board
Thomas Gerd Kuehn Chief Compliance Officer & General Counsel
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