The Group has 3 short term issuance programs all guaranteed by Holcim Ltd and rated by Standard & Poor's (A-2 rating) and Moody's (P-2 rating):
- A Negotiable European Commercial Paper (Neu CP) program of EUR 3,000 millions, with Holcim Finance Luxembourg S.A. as an issuer
- An US Commercial Paper Program of USD 2,000 millions, with Holcim US Finance S.àr.l. & Cie S.C.S. and LafargeHolcim Finance US LLC as issuers
- A Euro-Commercial Paper Program of EUR 3,000 millions, with LafargeHolcim Sterling Finance B.V and Holcim Finance Luxembourg S.A. as issuers, and allowing the issuance for the first time of ESG notes. This innovative structure fits into the Group’s overall commitment to Sustainable construction and best-in-class ESG performance by connecting sustainability commitments to our sources of funding and liquidity. In order to continue to be able to issue ESG notes under this programme, Holcim’s Sustainalytics ESG risk rating has to stay within the top 25% of the Construction Materials sector.