JM signs sustainability-linked private placement notes and Government-backed export credit facility

Johnson Matthey, a global leader in sustainable technologies, today announces two separate financing arrangements linked to its commitment to reduce greenhouse gas emissions. These two financings follow their first sustainability-linked financing, a £1 billion revolving credit facility, signed in March 2020.

The €315 million of private placement notes have interest rates linked with Johnson Matthey’s Key Performance Indicator (KPI) for the reduction of its Scope 1 and 2 greenhouse gas emissions. Johnson Matthey has a long history in the private placement market dating back to 1996 and these notes are among the first sustainability-linked financing from a UK corporate issuer. NatWest is the Sole Agent on the transaction.

Johnson Matthey will also receive £400 million of sustainable financing through UK Export Finance’s (UKEF) Export Development Guarantee scheme. UKEF is the UK’s export credit agency and their scheme is to support UK exports, allowing Johnson Matthey’s continued investment into research and development of hydrogen projects and circular technologies. Backing low carbon hydrogen production in the UK is a key part of the Prime Minister’s Ten Point Plan for a green industrial revolution. The loan was coordinated by HSBC who acted as ECA Coordinator, Sustainability Coordinator, Coordinating-MLA, and Facility Agent, with Sumitomo Mitsui Banking Corporation (SMBC) and Bank of America acting as MLAs.

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