Nemak's Proposed Sustainability-Linked Senior Unsecured Notes Of Up To EUR500 Million Rated 'BB+' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research

Nemak's Proposed Sustainability-Linked Senior Unsecured Notes Of Up To EUR500 Million Rated 'BB+' (Recovery Rating: '3')

Nemak's Proposed Sustainability-Linked Senior Unsecured Notes Of Up To EUR500 Million Rated 'BB+' (Recovery Rating: '3') - S&P Global Ratings’ Credit Research
Nemak's Proposed Sustainability-Linked Senior Unsecured Notes Of Up To EUR500 Million Rated 'BB+' (Recovery Rating: '3')
Published Jul 05, 2021
3 pages (1393 words) — Published Jul 05, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

MEXICO CITY (S&P Global Ratings) July 5, 2021--S&P Global Ratings today assigned its 'BB+' issue-level and '3' recovery ratings (rounded estimate: 55%) to Nemak S.A.B. de C.V.'s (BB+/Stable/--) proposed senior unsecured notes of up to €500 million. This transaction follows Nemak's recent refinancing of its dollar-denominated bond. The company will use the new issuance proceeds to refinance its existing 3.25% senior unsecured bond due 2024 with an outstanding balance of €500 million. Under the new issuance, the company has also established sustainability objectives, mainly on reducing greenhouse gas (GHG) emissions. Nemak's goal is to reduce GHG emissions by 18% by 2026, compared with scope 1 and 2 GHG emissions of 1.4 million tCO2e as of Dec. 31, 2019. Under a

  
Report Type:

Ratings Action

Ticker
1235Z@MM
Issuer
Nemak S.A.B. de C.V.
GICS
Auto Parts & Equipment (25101010)
Sector
Global Issuers, Structured Finance
Country
Mexico
Region
Latin America
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Nemak's Proposed Sustainability-Linked Senior Unsecured Notes Of Up To EUR500 Million Rated 'BB+' (Recovery Rating: '3')" Jul 05, 2021. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Nemak-s-Proposed-Sustainability-Linked-Senior-Unsecured-Notes-Of-Up-To-EUR500-Million-Rated-BB-Recovery-Rating-3-2683264>
  
APA:
S&P Global Ratings’ Credit Research. (). Nemak's Proposed Sustainability-Linked Senior Unsecured Notes Of Up To EUR500 Million Rated 'BB+' (Recovery Rating: '3') Jul 05, 2021. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Nemak-s-Proposed-Sustainability-Linked-Senior-Unsecured-Notes-Of-Up-To-EUR500-Million-Rated-BB-Recovery-Rating-3-2683264>
  
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