Chicago, March 15 – Tyman plc is issuing $75 million of sustainability-linked private placement notes to a large U.S.-based institution, according to a notice.
The notes will be issued in April and have maturities of seven and 10 years and an average coupon of 3.56%.
The company may reduce the coupons based on three sustainability performance targets.
The company aims to reduce its scope 1 and 2 emissions by a series of milestones, including a reduction of 50% by 2026 and carbon neutrality by 2030, relative to a 2019 baseline.
There is also a scope 3 target tied to the science-based target initiative for verification by February 2023.
Tyman also intends to participate in CDP in 2022 and annually thereafter.
The issuer is a London-based supplier of components to the door and window industry.
| Issuer: | Tyman plc
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| Issue: | Sustainability-linked notes
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| Amount: | $75 million
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| Tenors: | Seven years and 10 years
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| Average coupon: | 3.56%
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| Settlement: | April
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| Distribution: | Private placement
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