Umicore has successfully completed the issue of a fixed-rate, sustainability-linked US Private Placement Notes for a total amount of ?499 million equivalent1 which was priced end of March 2024. The Notes, placed with 17 institutional investors in Europe and North America, attracted strong interest both from investors who participated in Umicore?s previous placements, as well as new investors. The transaction is composed of several tranches with maturities ranging from 7 to 12 years corresponding to a weighted average maturity of more than nine years.

The funds of this issue will be drawn upon in July 2024. Through the successful completion of this private placement offering, Umicore diversifies and extends its funding base and the maturity of its debt at attractive fixed rate conditions. The proceeds of the offering will be used for refinancing and general corporate purposes.

This includes in particular the funding of Umicore?s projects under its 2030 RISE strategy based on powerful megatrends such as the rapid acceleration towards cleaner transport, the growing need for high-tech advanced materials and the need for circularity through recycling. All areas for which Umicore intends to deliver profitable growth and value creation. Together with the new ?350 million loan from the European Investment Bank signed in February 2024, this ?499 million issue will complement the existing portfolio of long-term debt instruments, including Convertible Bonds, Schuldschein, previous USPPs and EIB loans.

In addition to its debt portfolio, Umicore has access to ?1.1 billion of undrawn Syndicated Bank Credit Facilities and substantial additional uncommitted short term financing instruments, including commercial paper programs.