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The company is planning a three-tranche euro-denominated senior unsecured SLB in benchmark size with maturities of five, eight and 12 years. Proceeds will be for general corporate purposes and to refinance the bridge facility put in place in relation to the voluntary tender offer for ASTM’s take-private, according to Bond Radar (www.bondradar.com).

The take-private was executed by NAF 2, a vehicle of Nuova Argo Finanziaria, which in turn is ultimately 60% owned by the Gavio family and 40% by the Ardian Infrastructure IV fund.

The SLB will be issued in accordance with ASTM's Sustainability-Linked Financing Framework. Bonds issued under the framework will have KPIs targeting scope 1, 2, and 3 GHG emissions reductions. The company’s 2030 targets have been certified by the Science-Based Targets Initiative as aligned with a "well below 2°C" scenario.

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