Trade named Rilsan, the polyamide 11 is made from castor oil. The €300 million ($353 million) will also be used to build capacity for Rilsan’s biobased amino monomer precursor. The production plants are set to come online in 2022.
“Rilsan® polyamide 11 is recognized worldwide for its superior properties and performance in very demanding applications, significantly contributing to the development of sustainable solutions in fast growing sectors, such as mobility and in particular new energy vehicles, 3D printing as well as consumer goods,” Arkema says in a press release.
The bond has a maturity of 6 years and an annual coupon of 0.125% and was oversubscribed by a factor of 10.
Arkema’s Green Bond framework is aligned with the ICMA’s Green Bond Principles as set out in a Second Party Opinion provided by Vigeo Eiris, a leading independent provider ESG ratings agency.