Neutral Capital Finance Plc – Series 2
Senior Secured Green Bond
Launched – April 2021
A $250 million secured asset-backed programme of notes, a UK-based company, specifically set up in 2019 to issue bonds on behalf of Neutral Fuels. This is the Issuer’s second senior secured green bond listed on Frankfurt (Freiverkehr) with planned listing on Cayman offers a 7.25% annual coupon, paid semi-annually. Neutral Fuels is the largest producer of biofuel in the Gulf region.
The company operates from recycling facilities in Dubai, Abu Dhabi, Bahrain, and Delhi serving customers such as McDonald’s, Nestlé, PepsiCo, Del Monte, Emirates Airline, ENOC, ADNOC, IKEA and many others. Surrounded by bespoke recycling technology including a cloud-based tracking system, hand-held apps, and IoT (Internet of Things) sensors, Neutral Fuels gives each customer a full waste audit trail and detailed fuel consumption insights that enable them to reduce operating costs, and improve fleet efficiency.
Neutral Capital Finance PLC – Series 1
Launched – April 2019
A $50 million secured asset-backed programme of notes. The funds raised from the issuance of the bond will be utilised to finance the development and expansion of the current Neutral Fuels business. Neutral Fuels pioneering strategy is based on a “city-scale biofuel model” where local waste streams are converted into local premises into a fuel, which is used by the local transportation fleet. Neutral Fuels has been able to further capitalise on the growing importance of corporate sustainability goals by partnering with McDonald’s, Del Monte, Nestlé, Big Bus, and other well-known international brands for the purchasing of the refined biodiesel.
The first series of the notes were listed on Irelands GEM market and Frankfurt (Freiverkehr) with a term of 5 years and a coupon of 8.25%.