Crédit Agricole CIB Structures the First Green Commercial Paper Backed by Trade Receivables Contributing to the Energy & Env...
October 19 2020 - 9:01AM
Business Wire
Crédit Agricole CIB placed the first green issuance of LMA S.A.,
its European ABCP securitisation programme, for an amount of €25
million. Crédit Agricole CIB considers this ABCP issuance as the
first ABCP refinancing of trade receivables contributing to the
energy and environmental transition, and in particular to the
renewable energy, energy efficiency, clean mobility and waste and
water management sectors.
This issuance is the first of a long series of “green” issuances
planned by LMA S.A. It follows on from the issuances carried out
through the US programmes sponsored by Crédit Agricole CIB, which
were, for their part, backed by financing for electric
vehicles.
Arnaud d'Intignano, Global Head of Financing & Funding
Solutions, said that “Crédit Agricole CIB’s leadership in the
multi-seller ABCP market for its clients, coupled with its success
in Sustainable Finance, enabled us to carry out this pioneering
issue of ABCP in Europe with a leading investor in the field of ESG
(environmental, social and governance) investments.”
Éric Rossignol, Global Head of Quantitative Analysis,
Methodologies & Refinancing Operations adds that “this
initiative is the result of a strong cooperation between several
teams combining expertise in Sustainable financing solutions, CP
structuring and quantitative studies. Our ambition is to serve
LMA’s investors in Europe and the US by leveraging our ESG
expertise and ABCP franchise.”
The underlying assets comply with the eligibility criteria
defined in Crédit Agricole Group's Green Bond Framework, which
benefits from a second opinion from Vigéo Eiris. This Green Bond
Framework provides a framework for the issuance of green bonds by
the Crédit Agricole Group.
In addition, these assets comply with Crédit Agricole Group’s
Corporate Social Responsibility policy and contribute to the United
Nations’ sustainable development objectives.
Tanguy Claquin, Global Head of Sustainable Banking, said: “This
ABCP issue reflects the Group's continued commitment to green
issuance, with the aim of providing our clients with sustainable
financing solutions and investment opportunities for ESG investors.
The bank commits significant resources to developing green
financing solutions with a global environmental impact and has
maintained a leading position as a green, sustainable and social
bond arranger for many years. The issuance of green ABCPs in Europe
is a clear success demonstrating the extent to which climate change
is integrated into Crédit Agricole CIB’s product offering.”
About Crédit Agricole Corporate and Investment Bank (Crédit
Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm
of Credit Agricole Group, the 12th largest banking group worldwide
in terms of tier 1 capital (The Banker, July 2020). Nearly 8,400
employees across Europe, the Americas, Asia-Pacific, the Middle
East and Africa support the Bank's clients, meeting their financial
needs throughout the world. Crédit Agricole CIB offers its large
corporate and institutional clients a range of products and
services in capital markets activities, investment banking,
structured finance, commercial banking and international trade. The
Bank is a pioneer in the area of climate finance, and is currently
a market leader in this segment with a complete offer for all its
clients.
For many years Crédit Agricole CIB has been committed to
sustainable development. The Bank was the first French bank to sign
the Equator Principles in 2003. It has also been a pioneer in Green
Bond markets with the arrangement of public transactions from 2012
for a wide array of issuers (supranational banks, corporates, local
authorities, banks) and was one of the co-drafter of Green Bond
Principles and of the Social Bond Guidance. Relying on the
expertise of a dedicated sustainable banking team and on the strong
support of all bankers, Crédit Agricole CIB is one of the most
active banks in the Green bonds market.
For more information, please visit www.ca-cib.com
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version on businesswire.com: https://www.businesswire.com/news/home/20201019005497/en/
Press Maryse Dournes 33 (0)1 41 89 89 38 /
maryse.dournes@ca-cib.com Karen Wilkens 44 7909 524 076 /
karen.wilkens@ca-cib.com
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