BOISE, Idaho – (BUSINESS WIRE) – Micron Technology, Inc. (Nasdaq: MU), today announced the successful closing of nearly $ 3.7 billion in sustainability credit facilities. The facilities, which create additional long-term value for Micron’s stakeholders, reinforce the company’s commitment to sustainability and environmental goals by 2030.
These facilities include a $ 2.5 billion five-year revolving sustainability credit facility, which matures in May 2026, and a sustainability-linked A term loan of nearly $ 1.2 billion. , which expires in October 2024. The credit facility agreements refinance existing Micron revolving credit and Term Loan A Facilities without affecting cash or debt balances while reducing future interest expense. The Revolving Credit Facility and Term Loan A have price adjustment mechanisms that tie Micron’s financial pricing to the achievement of the company’s environmental targets for greenhouse gas emissions intensity. greenhouse (GES), diversion of waste from landfills and the Responsible Business Alliance (RBA) score indicators. Crédit Agricole Corporate and Investment Bank (CIB) was the only agent structuring sustainability on the two credit facilities.
This transaction reflects Micron’s leadership in sustainable finance and positions the company among the top five issuers of sustainability credit facilities in the United States while reaffirming Crédit Agricole CIB’s role as a strategic investment bank and partner of global companies for sustainability.
“The sustainability credit facilities reflect the depth of our commitment to advancing Micron’s environmental, social and governance objectives,” said David Zinsner, senior vice president and chief financial officer of Micron. “By linking our environmental measures to our financial performance, we aim to achieve positive sustainable impact while taking a new step in integrating sustainability into all aspects of our business.”
Micron recently underscored its commitments and achievable sustainability efforts in its sixth annual sustainability report, which includes time-bound targets to reduce GHG emissions intensity by 75% from 2018 measures, as well as to achieve 75% water conservation and 95% waste diversion globally by 2030. The company also aims to source 100% renewable energy from its manufacturing operations in the United States by end of 2025.
With more than a decade in this field, Crédit Agricole CIB is a pioneer in the environmental, social and governance (ESG) finance market. Crédit Agricole CIB has placed ESG issues at the heart of its agenda and is part of the societal pillar of its medium-term plan.
“Promoting growth while respecting the planet and its inhabitants is a state of mind that we are honored to share with Micron,” said Marc-André Poirier, Chief Executive Officer of Crédit Agricole CIB Americas. “We have worked closely with Micron to identify difficult sustainability issues and set ambitious goals in line with their strong company-wide commitment. We are proud to support Micron with its first sustainability funding. ”
About Crédit Agricole Corporate and Investment Bank
Crédit Agricole CIB is the corporate and investment bank of the Crédit Agricole group, the 12th largest banking group in the world in terms of Tier 1 capital (The Banker, July 2020). Nearly 8,400 employees in Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank’s clients and meet their financial needs around the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in the capital markets, investment banking, structured finance, commercial banking and international trade activities. The Bank is a pioneer in the field of climate finance, and is currently a leader in this segment with a complete offer for all of its clients.
Crédit Agricole CIB has been committed to sustainable development for many years. The Bank was the first French bank to sign the Equator Principles in 2003. It was also a pioneer in the green bond markets with the implementation of public transactions from 2012 for a wide range of issuers (supranational banks, companies, local authorities, banks) and was one of the co-authors of the Green Bond Principles and the Social Bond Guidance. Relying on the expertise of a team dedicated to sustainable banking and on the strong support of all bankers, Crédit Agricole CIB is one of the most active banks in the green bond market.
For more information, please visit www.ca-cib.com.
About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions that are transforming the way the world uses information to enrich lives. for everyone. By relentlessly focusing on our customers, technological leadership, and excellence in manufacturing and operations, Micron offers a rich portfolio of high performance DRAM, NAND and NOR memory and storage products through our Micron® brands and Crucial®. Every day, the innovations our people create fuel the data economy, enabling advancements in artificial intelligence and 5G applications that unlock opportunity – from the data center to the smart edge and across the customer and user experience. mobile. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.
© 2021 Micron Technology, Inc. All rights reserved. Information, products and / or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.
This press release contains forward-looking statements regarding Micron’s sustainable development goals. These forward-looking statements do not guarantee that Micron’s sustainability goals will be achieved and are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to documents filed by Micron with the Securities and Exchange Commission, in particular its most recent Forms 10-K and 10-Q. These documents contain and identify important factors that could cause Micron’s actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at www.micron.com/certainfactors. Although Micron believes that the expectations reflected in forward-looking statements are reasonable, Micron cannot guarantee future results, levels of activity, performance or achievements. Micron has no obligation to update any forward-looking statements after the date of this release to conform them to actual results.