Renewi plc (RWI)
THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW
Renewi plc Belgium and Luxembourg Retail Bond Offer Closes Early
Renewi plc (LSE: RWI), the international waste-to-product business, today confirms the successful early close of the €125m Green Bond Issue (the "Notes", ISIN XS2353474401) with a gross coupon of 3.00 per cent for a period of six years, to 2027.
This Green funding will assist Renewi to support the Circular Economy, increase recycling rates, increase secondary material production, reduce CO2 emissions and reduce resource depletion. The issuance will partially refinance existing debt including the €100m Bond which matures on 30 July 2022.
Toby Woolrych, Chief Financial Officer of Renewi plc, commented:
"We appreciate the strong support from retail and qualified investors for our latest Green issuance, and we are pleased to have closed the offer early as a result. We now have long term green financing in place to support our ambitious plans to invest in the Benelux circular economy. Renewi is on a mission to increase our recycling rates from the current industry-leading 66% to 75% by 2025. We have identified investments in advanced sorting, in building materials production, in mattress recycling, in plastics recycling, in the production of Bio-LNG, amongst many others that are making a real difference to advance the Circular Economy, to reduce CO2 emissions and to reduce resource depletion."
Terms used herein shall have the meaning given to them in the Prospectus dated 5 July 2021 (the "Prospectus") relating to the Notes. The maximum aggregate nominal amount of €125m was over subscribed and the Offer Period relating to the Notes closed early at 1730 CET 8 July 2021. Accordingly, Notes can no longer be subscribed for pursuant to the offer and acceptances can no longer be withdrawn.
THIS ANNOUNCEMENT IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY ANY OF THE BONDS REFERRED TO HEREIN AND SHALL NOT CONSTITUTE AN OFFER, SOLICITATION NOR SALE IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE IS UNLAWFUL, INCLUDING BUT NOT LIMITED TO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.
THE BONDS REFERRED TO IN THIS DOCUMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE US SECURITIES ACT OF 1933 (THE "SECURITIES ACT") OR UNDER THE SECURITIES LEGISLATION OF ANY STATE OF THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OTHER THAN PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE ISSUER DOES NOT INTEND TO MAKE A PUBLIC OFFER OF SECURITIES IN THE UNITED STATES OR TO REGISTER ANY SECURITIES UNDER THE SECURITIES ACT.
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Renewi is a leading waste to product company that gives new life to used materials every day. We have around 6,500 employees working at 165 operating sites across Europe. Our extensive operational network means we are always close to our customers.
For Renewi, waste is a state of mind, and an opportunity. Our many years of knowledge and experience, combined with a broad range of services, allow us to offer sustainable, practical recycling solutions. We use innovation and the latest technology to turn waste into useful materials such as paper, metal, plastic, glass, wood, building materials, compost and energy. In other words, we turn today's waste into tomorrow's raw materials. The result of our work is less waste and contamination, a smarter use of scarce raw materials, and a reduction in carbon emissions. This means that we are contributing towards a cleaner, circular world in which we "waste no more".
STR - Early Closure of Bond Offer
3.1. Additional regulated information required to be disclosed under the laws of a Member State
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