Île-de-France Mobilités: world’s first public sector issuer of a European Green Bond

On Tuesday January 28^th Île-de-France Mobilités (IDFM) successfully launched a EUR 1bn 20-year EuGB transaction at OAT+19bps. This is the tightest pricing ever achieved versus the OAT (Treasury bonds) curve as well as the largest tightening from guidance (6bps); a true testimony to their loyal and diversified investor base.

The issuance of this European Green Bond marks another milestone in Île-de-France Mobilités' green financing journey, reaffirming its commitment to high-quality sustainable financing. An amount corresponding to 100% of the proceeds will be used to finance or re-finance EU Taxonomy-aligned assets and expenditures that contribute to the EU environmental objective of climate change mitigation. 

The proceeds can be used for the following activities : the renovation and renewal of urban, suburban and road passenger transport with 0 direct CO2 emissions such as electric bus or aerial cableways, the renovation and renewal of public electric rail transport rolling stock with 0 direct (tailpipe) CO2 emissions (train, metro, tram train, tramway), the renovation and renewal of infrastructure enabling low-carbon public transport and improving the quality of service for mobility for the transports in the Région Île-de-France. 

This mandate highlights the long partnership between Île-de-France Mobilités and Crédit Agricole CIB. It extends our Bank’s Green Structuring Bank mandates on IDFM's Green Bond Framework in 2021 and its updated Green Financing Framework in 2024. 

Crédit Agricole CIB supported IDFM throughout the entire process including assistance with the drafting of the European Green Bond Factsheet, the selection of the pre-issuance External Reviewer, the analysis of the pre-issuance review, the drafting of the environmental risk factors in the standalone prospectus, the discussions with the relevant market authority and preparation of the marketing of these documents.