We advised the initial purchasers on the sustainability-linked notes offering

Davis Polk advised the representatives of several initial purchasers, in connection with the debut Rule 144A / Regulation S offering by The Weir Group PLC of $800 million aggregate principal amount of its 2.200% sustainability-linked notes due 2026. The coupon on the notes is subject to a step up if the issuer does not meet certain sustainability targets. The Weir Group PLC intends to use the net proceeds from the offering for general corporate purposes, including to repay existing indebtedness.

The Weir Group is a premium mining technology business, which designs, manufactures and supports highly engineered equipment with market-leading positions from extraction to processing and tailings management. Founded in 1871 and headquartered in Glasgow, Scotland, The Weir Group operates in every major mining region in the world and its large installed base of original equipment is served by a comprehensive global service network, which includes regional manufacturing plants and local service facilities, in more than 60 countries.

The capital markets team included partner Reuven B. Young, counsel Radoslaw Michalak and associate Tanu Sinha. Counsel Alon Gurfinkel and associate Summer Xia provided U.S. tax advice. Partner Jonathan Cooklin and associate Freddie Schwier provided U.K. tax advice. Counsel Will Schisa provided regulatory advice. Counsel Loyti Cheng and associate Cristina Harshman provided environmental advice. Members of the Davis Polk team are based in the London, New York and Washington DC offices.

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