Crédit Agricole CIB supports the largest Asia ex-Japan non-sovereign EUR green bond issuance by MTR Corporation

Crédit Agricole CIB acted as the Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager to price MTR Corporation’s EUR 3 billion triple-tranche inaugural EUR denominated public green bond issuance.

This issuance set a few new records:

• The largest Asia ex-Japan non-sovereign EUR green bond
• The largest bond deal for MTR Corporation
• The 12-year and 20-year tranches are each the largest-ever tranche sizes for those tenors out of Asia ex-Japan
• The 20-year tranche is the first-ever Asia ex-Japan non-sovereign 20-year EUR bond offering
• All tranches achieved the lowest credit spreads for their respective tenors among all Asia non-sovereign public EUR bonds

This transaction further broadened MTR Corporation’s international investor base and attracted strong demand from a diverse pool of institutional investors, with an oversubscription rate of over 3x. Its proceeds will be used to invest in eligible green projects and support MTR Corporation’s new phase of growth of its low-carbon railway infrastructure in Hong Kong. 

This also underscores the trust from MTR Corporation on the Bank’s strong capabilities and expertise building on long-term collaboration on the back of the HKD green bond offering in April 2026 and the USD subordinated perpetual hybrid securities issuance in June 2025.

MTR Corporation is a recognised world-class operator of sustainable rail transport services. It has extensive end-to-end railway expertise with over 45 years of railway projects experience from design to planning and construction through to commissioning, maintenance and operations. With more than 46,000 dedicated staff, MTR Corporation carries over 13 million passenger journeys worldwide every weekday in Hong Kong, Mainland China and beyond.