ICP.L Regulatory News (ICP)

20 Jan 2022 15:40

ICG successfully prices €500 million 8-year sustainability-linked Eurobond

Intermediate Capital Group plc (“ICG” or the “Group”), the global alternative asset manager with $69bn assets under management, announces the successful pricing of an 8 year, €500 million senior unsecured bond issue (the “bond”). The bond has an annual coupon of 2.5%. The proceeds will be used for general corporate purposes, including to repay certain existing debt facilities as they mature in the coming years.

To further align all parts of our business with our commitment to being net zero by 2040 across all of our operations and relevant investments, the bond features a coupon adjustment based on the progress ICG makes in achieving its science based targets. Further details on ICG’s science-based targets are available here.

Sustainalytics has provided a second party opinion confirming the ICG Bond Framework (“Framework”) aligns with The Sustainability-Linked Bond Principles 2020. Sustainalytics’ second party opinion and the Framework are available on ICG’s website: Debtholders (icgam.com).

Vijay Bharadia, CFOO:

"This is our second Eurobond, and we are delighted it was so positively received. This long-term financing further enhances our financial flexibility and extends the weighted-average duration of our drawn debt to 4.8 years. The economic alignment with achieving our science-based targets underlines the importance ICG places on our net zero ambition, and follows the successful arrangement of our ESG-linked RCF in February 2021."

ENQUIRIES

Shareholder / Analyst enquiries:

Steve Burton, Treasurer, ICG +44 (0) 20 3545 2000

Eimear Palmer, Head of Responsible Investing, ICG +44 (0) 20 3545 2000

Chris Hunt, Head of Shareholder Relations, ICG +44 (0) 20 3545 2020

Media enquiries:

Fiona Laffan, Global Head of Corporate Affairs, ICG +44 (0) 20 3545 1510

ABOUT ICG

ICG provides flexible capital solutions to help companies develop and grow. We are a global alternative asset manager with over 30 years' history, managing $69bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

We develop long-term relationships with our business partners to deliver value for shareholders, clients and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.

ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn.

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