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<body>In March 2025, Hong Kong property developer Hysan Development issued a US$750 million perpetual non-call 5.5-year bond with a unique hybrid structure. This issuance is the first transaction globally that successfully achieved a 1-notch issue rating outcome under Moody Investor Services’ revised hybrid methodology published in February 2024, which has a perpetual maturity. Hysan conducted a concurrent public tender offer for its outstanding US$750 million junior subordinated perpetual securities which has its first call date in June 2025. The highly successful tender offer received a total of approximately US$690 million of instructions. Crédit Agricole CIB acted as joint global coordinator, joint bookrunner and joint lead manager for this groundbreaking US-dollar hybrid securities, as well as joint dealer manager in the tender offer.<grey-block>Did you know debts have seniorities? In the event of liquidation, senior debt holders will be paid first, while subordinated debt holders will only receive payments if the remaining funds are sufficient after paying off the senior debt.</grey-block><figure @class="image"><img @height="2242" @src="https://ca-cib.celum.cloud/Hysan hybrid bond_41461_CDN_images.jpg" @style="aspect-ratio:1695/2242;" @width="1695"></img></figure>Hybrid securities are securities that feature both debt (borrowing money from an external source) and equity characteristics (raising money by selling shares). One common example of hybrid securities is subordinated perpetual bonds, in which investors that hold a higher seniority of the bond gets paid out first.Despite being riskier than conventional bonds, hybrid bonds can be a beneficial instrument for issuers – they are usually less costly than equity. By including equity-like features, they also tend to improve the issuers’ credit ratios, provide potentially higher rate of returns, and could be tax-deductible.The issuance for Hysan Development was implemented in response to an updated equity credit rating methodology introduced by Moody's Investor Services for hybrid bonds last year. This innovative structure supported Hysan Development in attaining an investment-grade issue rating for the instrument and a better pricing outcome, which attracted investors to oversubscribe by 4.3 times. Given hybrid bonds’ flexible nature, structures are highly customisable depending on issuers’ financial and strategic objectives.In January this year, Crédit Agricole CIB has also led another Hong Kong-based corporate, the city’s utilities provider CLP Power Hong Kong, in issuing a hybrid bond and is one of only two banks to play a lead role on both transactions. Notably, the Bank is the only bank to lead the ratings workstream on both these issuances. These transactions showcase Crédit Agricole CIB’s ongoing effort in offering clients best-in-class solutions through innovation and expertise.<a @href="Q1">Q1</a></body>

<body>A significant milestone for Hysan as it navigates the global hybrid capital markets with a pioneering global-first approach.</body>

Crédit Agricole CIB implemented a novel hybrid bond structure for Hysan Development

Client successes

<body>In March 2025, Hong Kong property developer Hysan Development issued a US$750 million perpetual non-call 5.5-year bond with a unique hybrid structure. This issuance is the first transaction globally that successfully achieved a 1-notch issue rating outcome under Moody Investor Services’ revised hybrid methodology published in February 2024, which has a perpetual maturity. Hysan conducted a concurrent public tender offer for its outstanding US$750 million junior subordinated perpetual securities which has its first call date in June 2025. The highly successful tender offer received a total of approximately US$690 million of instructions. Crédit Agricole CIB acted as joint global coordinator, joint bookrunner and joint lead manager for this groundbreaking US-dollar hybrid securities, as well as joint dealer manager in the tender offer.<grey-block>Did you know debts have seniorities? In the event of liquidation, senior debt holders will be paid first, while subordinated debt holders will only receive payments if the remaining funds are sufficient after paying off the senior debt.</grey-block><figure class="image"><img height="2242" src="https://ca-cib.celum.cloud/Hysan hybrid bond_41461_CDN_images.jpg" style="aspect-ratio:1695/2242;" width="1695"></img></figure>Hybrid securities are securities that feature both debt (borrowing money from an external source) and equity characteristics (raising money by selling shares). One common example of hybrid securities is subordinated perpetual bonds, in which investors that hold a higher seniority of the bond gets paid out first.Despite being riskier than conventional bonds, hybrid bonds can be a beneficial instrument for issuers – they are usually less costly than equity. By including equity-like features, they also tend to improve the issuers’ credit ratios, provide potentially higher rate of returns, and could be tax-deductible.The issuance for Hysan Development was implemented in response to an updated equity credit rating methodology introduced by Moody's Investor Services for hybrid bonds last year. This innovative structure supported Hysan Development in attaining an investment-grade issue rating for the instrument and a better pricing outcome, which attracted investors to oversubscribe by 4.3 times. Given hybrid bonds’ flexible nature, structures are highly customisable depending on issuers’ financial and strategic objectives.In January this year, Crédit Agricole CIB has also led another Hong Kong-based corporate, the city’s utilities provider CLP Power Hong Kong, in issuing a hybrid bond and is one of only two banks to play a lead role on both transactions. Notably, the Bank is the only bank to lead the ratings workstream on both these issuances. These transactions showcase Crédit Agricole CIB’s ongoing effort in offering clients best-in-class solutions through innovation and expertise.<a href="Q1">Q1</a></body>

<body>The Euromoney Trade Finance 2025 Survey confirms Crédit Agricole Group’s strong progression in Trade Finance by distinguishing it as a Leader in Western Europe, France, and Italy and as the second Bank in the world.The latest Euromoney 2025 Customer Survey, published in February, highlights the excellent market perception of the Crédit Agricole Group’s Trade Finance, Supply Chain Finance and Commodities activities. This annual survey relies on more than 13,000 company votes (mid-caps and corporates) and represents a key benchmark for measuring banks’ quality of services, product offer and technology at national, regional, and global level.  Indeed, the Group is ranked first overall in Western Europe, as well as in all the sub-categories in this region (Customer Service, Products and Technology), gaining nine places compared to last year.At the global level, the Group also achieved excellent progress, now ranking second and making an impressive 13-place jump compared to last year.Finally, the Group consolidated its excellent positions at national level, maintaining its position as a Leader in France, becoming Leader in Italy and reaching number two in Poland for Crédit Agricole International Banking Development.<a @href="Quote 1">Quote 1</a><a @href="Quote 2">Quote 2</a> <figure @class="image"><img @height="1026" @src="https://ca-cib.celum.cloud/euromoney marketmap for trade finance_41241_CDN_images.jpg" @style="aspect-ratio:975/1026;" @width="975"></img></figure></body>

Trade Finance Leader in Western Europe according Euromoney: historic results for Crédit Agricole CIB and CA Group

Awards & Rankings

<body>The Euromoney Trade Finance 2025 Survey confirms Crédit Agricole Group’s strong progression in Trade Finance by distinguishing it as a Leader in Western Europe, France, and Italy and as the second Bank in the world.The latest Euromoney 2025 Customer Survey, published in February, highlights the excellent market perception of the Crédit Agricole Group’s Trade Finance, Supply Chain Finance and Commodities activities. This annual survey relies on more than 13,000 company votes (mid-caps and corporates) and represents a key benchmark for measuring banks’ quality of services, product offer and technology at national, regional, and global level.  Indeed, the Group is ranked first overall in Western Europe, as well as in all the sub-categories in this region (Customer Service, Products and Technology), gaining nine places compared to last year.At the global level, the Group also achieved excellent progress, now ranking second and making an impressive 13-place jump compared to last year.Finally, the Group consolidated its excellent positions at national level, maintaining its position as a Leader in France, becoming Leader in Italy and reaching number two in Poland for Crédit Agricole International Banking Development.<a href="Quote 1">Quote 1</a><a href="Quote 2">Quote 2</a> <figure class="image"><img height="1026" src="https://ca-cib.celum.cloud/euromoney marketmap for trade finance_41241_CDN_images.jpg" style="aspect-ratio:975/1026;" width="975"></img></figure></body>

<body>By contributing to the development of several market principles and offering our clients innovative financial products, our Bank has succeeded in becoming a pioneer and leader in this field.(Re)discover the key moments of this journey in a video that highlights the last two decades of concrete actions, brave decisions, and illustrates our long-term commitment to helping our clients in their transition and decarbonise their portfolios.This video includes inspiring testimonies from: Jean-Yves Hocher, Chief Executive Officer of CACIB from 2010 to 2018, Tanguy Claquin, Global Head of Sustainability, Xavier Beurtheret, Global Head of Corporate DCM, Nathalie Chambard, Head of Sectors, Corporate and Structured counterparty credit risks and Head of EMEA Loan Origination from 2015 to 2019, Eric Cochard, Sustainable Development Manager from 2007 to 2024, Dominique Duval, Managing Director - Senior Banker, Large French Clients and Head of Sustainable Banking Asia-Pacific from 2017 to 2021, and Emmanuelle Trochu, Global Head of Official Institutions Coverage.</body>

<body>From the creation of the Equator Principles in 2003 to the implementation of sectoral commitments, the creation of teams dedicated to sustainable finance at an international level, and the emission of emblematic transactions, our Bank has been committed to addressing the climate challenge for over 20 years.</body>

Sustainable finance: 20 years of commitment for our clients and society

Green finance

<body>On 5 March 2025, Crédit Agricole CIB supported Korea Hydro and Nuclear Power (KHNP), South Korea’s largest electric power company, in issuing a HK$1.166 billion international green nuclear bond – the first-of-its-kind in Asia. Proceeds of this green nuclear bond will be used for the research and development (R&D) investments focused on enhancing the safety of nuclear power plants and developing next-generation nuclear technologies. Crédit Agricole CIB acted as the Sole Dealer for this landmark transaction. This transaction not only marks a significant milestone in South Korea’s journey towards a sustainable energy future, but it also underscores Crédit Agricole CIB’s exceptional expertise in mobilising sustainable capital for nuclear energy projects. Notably, Crédit Agricole CIB played a pivotal role in <a @href="https://www.ca-cib.com/en/news/edf-and-credit-agricole-cib-sign-financing-agreement-dedicated-maintenance-french-nuclear">EDF’s first euro green bond with proceeds financing nuclear capital expenditures</a>, and served as the Sole Green Structuring Agent for <a @href="https://www.constellationenergy.com/newsroom/2024/Constellation-Offers-Nations-First-Corporate-Green-Bond-for-Nuclear-Energy.html">the United States’ inaugural corporate green bond that can be utilised to finance nuclear projects for Constellation</a>. Ensuring access to affordable, reliable, sustainable, and modern energy is one of the 17 United Nations Sustainable Development Goals (SDGs). Nuclear power plays a critical role in Korea’s sustainable energy grid, contributing approximately 28% of the country’s total electricity generation and is integral to the government’s plan to increase this proportion to 35% by 2036. As South Korea’s sole nuclear generation company, KHNP is instrumental in facilitating this objective through continuous R&D efforts aimed at strengthening core technologies and safety capabilities in nuclear power plants.  In conjunction with the issuance, Crédit Agricole CIB also supported KHNP in updating its green bond framework that outlines eligibility criteria for nuclear R&D projects. The eligibility criteria reference technical thresholds for nuclear economies activities defined in the Korean Green Taxonomy (K-Taxonomy), published by the Ministry of Environment, and the EU Taxonomy. A separate Nuclear Bond Register has been created to track the proceeds of green nuclear bond issuances, ensuring full traceability and distinction from other green bond issuances. Post-issuance, KHNP is committed to publishing an annual progress report and will seek independent external verification of the allocation of proceeds and their impacts until full allocation of proceeds is achieved.  KHNP’s green bond framework received a positive second-party opinion (SPO) from Moody’s Investor Service, attaining a ‘SQS1 (Excellent)’ score – the highest possible sustainability quality rating in Moody’s SPO methodology. To date, only about 9% of issuers worldwide have achieved a SQS1 rating, making this the first framework with nuclear power-related use of proceeds to receive such recognition. Visit <a @href="https://www.khnp.co.kr/eng/contents.do?key=461">KHNP’s corporate website</a> to find out more about the KHNP Green Bond Framework (2024).  <a @href="CitationSungminJoh">CitationSungminJoh</a><a @href="CitationCarmenTsang">CitationCarmenTsang</a><a @href="CitationKevinWong">CitationKevinWong</a></body>

<body>Korea Hydro and Nuclear Power published Asia's first green bond framework with nuclear-related use of proceeds and issued the first international green nuclear bond in Asia.</body>

Crédit Agricole CIB supported Korea Hydro and Nuclear Power in issuing Asia’s first green nuclear bond

<body>On 5 March 2025, Crédit Agricole CIB supported Korea Hydro and Nuclear Power (KHNP), South Korea’s largest electric power company, in issuing a HK$1.166 billion international green nuclear bond – the first-of-its-kind in Asia. Proceeds of this green nuclear bond will be used for the research and development (R&D) investments focused on enhancing the safety of nuclear power plants and developing next-generation nuclear technologies. Crédit Agricole CIB acted as the Sole Dealer for this landmark transaction. This transaction not only marks a significant milestone in South Korea’s journey towards a sustainable energy future, but it also underscores Crédit Agricole CIB’s exceptional expertise in mobilising sustainable capital for nuclear energy projects. Notably, Crédit Agricole CIB played a pivotal role in <a href="https://www.ca-cib.com/en/news/edf-and-credit-agricole-cib-sign-financing-agreement-dedicated-maintenance-french-nuclear">EDF’s first euro green bond with proceeds financing nuclear capital expenditures</a>, and served as the Sole Green Structuring Agent for <a href="https://www.constellationenergy.com/newsroom/2024/Constellation-Offers-Nations-First-Corporate-Green-Bond-for-Nuclear-Energy.html">the United States’ inaugural corporate green bond that can be utilised to finance nuclear projects for Constellation</a>. Ensuring access to affordable, reliable, sustainable, and modern energy is one of the 17 United Nations Sustainable Development Goals (SDGs). Nuclear power plays a critical role in Korea’s sustainable energy grid, contributing approximately 28% of the country’s total electricity generation and is integral to the government’s plan to increase this proportion to 35% by 2036. As South Korea’s sole nuclear generation company, KHNP is instrumental in facilitating this objective through continuous R&D efforts aimed at strengthening core technologies and safety capabilities in nuclear power plants.  In conjunction with the issuance, Crédit Agricole CIB also supported KHNP in updating its green bond framework that outlines eligibility criteria for nuclear R&D projects. The eligibility criteria reference technical thresholds for nuclear economies activities defined in the Korean Green Taxonomy (K-Taxonomy), published by the Ministry of Environment, and the EU Taxonomy. A separate Nuclear Bond Register has been created to track the proceeds of green nuclear bond issuances, ensuring full traceability and distinction from other green bond issuances. Post-issuance, KHNP is committed to publishing an annual progress report and will seek independent external verification of the allocation of proceeds and their impacts until full allocation of proceeds is achieved.  KHNP’s green bond framework received a positive second-party opinion (SPO) from Moody’s Investor Service, attaining a ‘SQS1 (Excellent)’ score – the highest possible sustainability quality rating in Moody’s SPO methodology. To date, only about 9% of issuers worldwide have achieved a SQS1 rating, making this the first framework with nuclear power-related use of proceeds to receive such recognition. Visit <a href="https://www.khnp.co.kr/eng/contents.do?key=461">KHNP’s corporate website</a> to find out more about the KHNP Green Bond Framework (2024).  <a href="CitationSungminJoh">CitationSungminJoh</a><a href="CitationCarmenTsang">CitationCarmenTsang</a><a href="CitationKevinWong">CitationKevinWong</a></body>

Events

Crédit Agricole celebrates 120 years of presence in Singapore

Crédit Agricole celebrates the 130th anniversary of its presence in Hong Kong

<body>Transition is an important theme in the ESG space, and defining transition is salient in the Southeast Asia (SEA) region where the progressive shift towards a Net Zero economy is taking place alongside economic development, population growth, and rising energy demands. Given Singapore’s role as SEA’s key financial hub, it is one of the ideal marketplaces to bring together issuers and investors to explore this challenging, futuristic yet pivotal topic.In addition, the Singapore Government has supported and placed strong emphasis on transition finance, with its de-facto central bank Monetary Authority of Singapore (MAS) launching the world’s first taxonomy in December last year.<grey-block>Transition is more than topical; it is an essential path forward as the public and private sectors across industries work together to navigate the evolving landscape of transition finance.</grey-block>On 16 May 2024, Crédit Agricole CIB gathered sustainable finance experts from across Asia-Pacific markets to explore how the region can bring forward the transition finance agenda together. The agenda covers private one-on-one issuer-investor meetings, closed-door investor roundtable, a workshop led by Moody’s, and ended with a panel discussion to explore transition topics including current opportunities and challenges, as well as capital investment. We were delighted to invite two distinguished keynote speakers from the Singapore Exchange (SGX) and International Finance Corporation (IFC) to share key insights before the panel discussion.Sustainable Investment Banking and Credit Sales teams in Singapore jointly hosted the successful sustainable finance event. This is the second time Crédit Agricole CIB hosted sustainable finance forum for issuers and investors in Singapore, followed by last year’s Green Rendezvous ESG x Credit event. <img @height="378" @src="https://ca-cib.celum.cloud/photo-collage-1_35046_CDN_images.jpg" @width="1018"></img> With a full agenda from private one-on-one investor meetings, closed door investor roundtable, rating agency workshop, our teams in Singapore explored the latest trends with sustainable finance specialists and discussed the ‘way forward’ for companies.  <subtitle-block>Explore insights</subtitle-block>What is effective transition finance, and why is it important?Effective transition is about greening the economy in a way that is fair and inclusive, in addition to expanding the pure green economy.To reach Net Zero by 2050, building green finance for solar panels and wind farms is one of the pathways, but we shall also progressively de-carbonise all sectors of the economy by considering other intermediate stages. Financial flows into climate action are still sorely lacking and establishing transition finance is crucial to support progressive and ambitious transition efforts in the economy.As the SEA region operates at a different pace compared to the European Union, it is important to consider the specific country’s energy needs regarding energy security, affordability, availability and accessibility when navigating the landscape of transition finance. Today, corporates face different challenges, mainly external resource constraints and pricing dynamics. That being said, investors are highly supportive of investing in financial instruments dedicated to transition and their key assessment criteria would be the environmental impact of these investments.By fostering dialogue between issuers and investors in the transition event, Crédit Agricole CIB plays a pivotal role to galvanise collective action across the financial ecosystem to propel the transition agenda.   <subtitle-block>Find out more</subtitle-block><ul><li><a @href="https://pressroom.credit-agricole.com/news/credit-agricole-accelerates-its-climate-commitments-19cf-94727.html">Crédit Agricole Group’s climate commitment (December 2023)</a></li><li><a @href="https://www.ca-cib.com/en/news/bank-co-authors-first-sustainable-finance-thought-leadership-paper-alliance-green-commercial">Crédit Agricole CIB’s transition experience – thought leadership paper (October 2023)</a></li></ul></body>

<body>Crédit Agricole CIB successfully hosted its first Transition Finance Forum in Singapore. This follows last year’s Green Rendezvous ESG x Credit event, extending our continuous conversation with issuers and investors in the region. </body>

Asia-Pacific leads the transition finance momentum – what’s next?

<body>Transition is an important theme in the ESG space, and defining transition is salient in the Southeast Asia (SEA) region where the progressive shift towards a Net Zero economy is taking place alongside economic development, population growth, and rising energy demands. Given Singapore’s role as SEA’s key financial hub, it is one of the ideal marketplaces to bring together issuers and investors to explore this challenging, futuristic yet pivotal topic.In addition, the Singapore Government has supported and placed strong emphasis on transition finance, with its de-facto central bank Monetary Authority of Singapore (MAS) launching the world’s first taxonomy in December last year.<grey-block>Transition is more than topical; it is an essential path forward as the public and private sectors across industries work together to navigate the evolving landscape of transition finance.</grey-block>On 16 May 2024, Crédit Agricole CIB gathered sustainable finance experts from across Asia-Pacific markets to explore how the region can bring forward the transition finance agenda together. The agenda covers private one-on-one issuer-investor meetings, closed-door investor roundtable, a workshop led by Moody’s, and ended with a panel discussion to explore transition topics including current opportunities and challenges, as well as capital investment. We were delighted to invite two distinguished keynote speakers from the Singapore Exchange (SGX) and International Finance Corporation (IFC) to share key insights before the panel discussion.Sustainable Investment Banking and Credit Sales teams in Singapore jointly hosted the successful sustainable finance event. This is the second time Crédit Agricole CIB hosted sustainable finance forum for issuers and investors in Singapore, followed by last year’s Green Rendezvous ESG x Credit event. <img height="378" src="https://ca-cib.celum.cloud/photo-collage-1_35046_CDN_images.jpg" width="1018"></img> With a full agenda from private one-on-one investor meetings, closed door investor roundtable, rating agency workshop, our teams in Singapore explored the latest trends with sustainable finance specialists and discussed the ‘way forward’ for companies.  <subtitle-block>Explore insights</subtitle-block>What is effective transition finance, and why is it important?Effective transition is about greening the economy in a way that is fair and inclusive, in addition to expanding the pure green economy.To reach Net Zero by 2050, building green finance for solar panels and wind farms is one of the pathways, but we shall also progressively de-carbonise all sectors of the economy by considering other intermediate stages. Financial flows into climate action are still sorely lacking and establishing transition finance is crucial to support progressive and ambitious transition efforts in the economy.As the SEA region operates at a different pace compared to the European Union, it is important to consider the specific country’s energy needs regarding energy security, affordability, availability and accessibility when navigating the landscape of transition finance. Today, corporates face different challenges, mainly external resource constraints and pricing dynamics. That being said, investors are highly supportive of investing in financial instruments dedicated to transition and their key assessment criteria would be the environmental impact of these investments.By fostering dialogue between issuers and investors in the transition event, Crédit Agricole CIB plays a pivotal role to galvanise collective action across the financial ecosystem to propel the transition agenda.   <subtitle-block>Find out more</subtitle-block><ul><li><a href="https://pressroom.credit-agricole.com/news/credit-agricole-accelerates-its-climate-commitments-19cf-94727.html">Crédit Agricole Group’s climate commitment (December 2023)</a></li><li><a href="https://www.ca-cib.com/en/news/bank-co-authors-first-sustainable-finance-thought-leadership-paper-alliance-green-commercial">Crédit Agricole CIB’s transition experience – thought leadership paper (October 2023)</a></li></ul></body>

Crédit Agricole CIB hosted its 17th annual Global High Yield and Leverage Finance conference

Crédit Agricole marks 50th anniversary in South Korea

<body>To thank our valued clients for all their support, we organised two events in Beijing and Shanghai. During this event, clients were able to establish a connection with our Bank’s history in China, highlighting the key milestones in our development.  <figure @class="image"><img @height="346" @src="https://ca-cib.celum.cloud/cacib-logo-125-ch_31531_CDN_images.jpg" @style="aspect-ratio:1200/346;" @width="1200"></img></figure> <title-block>A strong and long-lasting commitment to China</title-block>Having opened its first office in Shanghai in 1898 and acquired a deep understanding of the country’s market dynamics over the past 125 years, the Crédit Agricole Group today offers in China:<ul><li>corporate and investment banking services via Crédit Agricole CIB. </li><li>asset management solutions via Amundi’s joint ventures with Agricultural Bank of China and Bank of China,</li><li>specialised financial services via Crédit Agricole Consumer Finance’s joint venture with Guangzhou Automotive Group.</li></ul><title-block>China is a very important and strategic market for our Bank</title-block>In recent years, despite a challenging environment, Crédit Agricole CIB kept investing in China by increasing our capital, expanding our team and creating a new entity for onshore investment banking advisory at the beginning of 2023. Today, we serve our clients in the country through six offices and with more than 230 staff. <grey-block @style="text-align:center;">Crédit Agricole CIB is committed to supporting its clients in their development in the world's second largest economy.</grey-block></body>

<body>In 2023, the Crédit Agricole Group celebrates 125 years of presence in China, an important milestone in our history.</body>

Crédit Agricole celebrates its 125th anniversary in China

<body>To thank our valued clients for all their support, we organised two events in Beijing and Shanghai. During this event, clients were able to establish a connection with our Bank’s history in China, highlighting the key milestones in our development.  <figure class="image"><img height="346" src="https://ca-cib.celum.cloud/cacib-logo-125-ch_31531_CDN_images.jpg" style="aspect-ratio:1200/346;" width="1200"></img></figure> <title-block>A strong and long-lasting commitment to China</title-block>Having opened its first office in Shanghai in 1898 and acquired a deep understanding of the country’s market dynamics over the past 125 years, the Crédit Agricole Group today offers in China:<ul><li>corporate and investment banking services via Crédit Agricole CIB. </li><li>asset management solutions via Amundi’s joint ventures with Agricultural Bank of China and Bank of China,</li><li>specialised financial services via Crédit Agricole Consumer Finance’s joint venture with Guangzhou Automotive Group.</li></ul><title-block>China is a very important and strategic market for our Bank</title-block>In recent years, despite a challenging environment, Crédit Agricole CIB kept investing in China by increasing our capital, expanding our team and creating a new entity for onshore investment banking advisory at the beginning of 2023. Today, we serve our clients in the country through six offices and with more than 230 staff. <grey-block style="text-align:center;">Crédit Agricole CIB is committed to supporting its clients in their development in the world's second largest economy.</grey-block></body>

<body>During the morning plenary session, we had the pleasure of presentations by distinguished speakers:<ul><li>Nadège Jassaud, member of the Single Resolution Board: on European banking crisis management</li><li>Taos Fudji, Director, S&P: on  the European insurance sector</li><li>Gwenaelle Lereste, Pascal Decque & Nicolas Peyrichoux, CACIB Credit Research: Presentation of the banking sector</li></ul>This was followed by 1on1 meetings between bank and insurance issuers from across Europe and French investors. <img @alt="" @class="" @data-entity-type="" @data-entity-uuid="" @src=""></img>“In the current volatile environment, it is highly beneficial to meet and exchange thoughts, we are happy to play a role to promote these discussions and gather our clients -investors and issuers.  Thanks to our panelists, clients for their trust and support and thanks to colleagues along the credit chain for making this event possible.” Marjolaine Marzouk, Head of Credit Sales Institutional Investors France Belgium Luxembourg Switzerland & Official Institutions EMEA  <img @alt="" @class="" @data-entity-type="" @data-entity-uuid="" @src=""></img>“Amidst volatile markets, I am delighted that CACIB facilitated the exchange of views and information between regulators, rating agencies, issuers and investors.” Cécile Bidet, Head of Financial Institutions DCM   </body>

<body>Financial Institutions DCM and GMD Sales hosted their 2nd Bank & Insurance Conference in Paris last week, with the participation of issuers, investors, ratings agencies and regulatory bodies.</body>

<body>Financial Institutions DCM and GMD Sales hosted their 2nd Bank & Insurance Conference</body>

<body>During the morning plenary session, we had the pleasure of presentations by distinguished speakers:<ul><li>Nadège Jassaud, member of the Single Resolution Board: on European banking crisis management</li><li>Taos Fudji, Director, S&P: on  the European insurance sector</li><li>Gwenaelle Lereste, Pascal Decque & Nicolas Peyrichoux, CACIB Credit Research: Presentation of the banking sector</li></ul>This was followed by 1on1 meetings between bank and insurance issuers from across Europe and French investors. <img alt="" class="" data-entity-type="" data-entity-uuid="" src=""></img>“In the current volatile environment, it is highly beneficial to meet and exchange thoughts, we are happy to play a role to promote these discussions and gather our clients -investors and issuers.  Thanks to our panelists, clients for their trust and support and thanks to colleagues along the credit chain for making this event possible.” Marjolaine Marzouk, Head of Credit Sales Institutional Investors France Belgium Luxembourg Switzerland & Official Institutions EMEA  <img alt="" class="" data-entity-type="" data-entity-uuid="" src=""></img>“Amidst volatile markets, I am delighted that CACIB facilitated the exchange of views and information between regulators, rating agencies, issuers and investors.” Cécile Bidet, Head of Financial Institutions DCM   </body>

Financial Institutions DCM and GMD Sales hosted their 2nd Bank & Insurance Conference

<body><img @alt="" @data-entity-type="" @data-entity-uuid="" @src=""></img><h2>A milestone for Crédit Agricole CIB in China </h2>The new entity allows Crédit Agricole CIB to bolster its onshore strategic advisory capability on investment banking activities, reinforcing its commitment to grow with its clients in mainland China.The scope covered by Credit Agricole (Beijing) Advisory Services Co., Ltd. is focused on cross-border merger and acquisition, encompassing purchases, disposals and capital raising. The newly-created set-up aims to support clients’ business development by connecting them to new investors and also Crédit Agricole CIB’s global sectorial and green advisory network, enabling the Bank to better serve local and international customers in mainland China. <h2>Appointment of Huai Yang, Head of Crédit Agricole (Beijing) Advisory Services</h2>Huai Yang has been appointed Head of Crédit Agricole (Beijing) Advisory Services, effective immediately, to oversee the WFOE’s operation and develop the business segment for long-term success. Huai Yang reports to Sébastien Pailhole, Head of Global Investment Banking for Asia-Pacific, Crédit Agricole CIB.<table @border="" @cellpadding="" @cellspacing="" @style=""><tbody><tr><td @style=""><img @alt="" @data-entity-type="" @data-entity-uuid="" @src=""></img></td><td @style=""> </td><td @style="">Jean-François Deroche, Senior Regional Officer for Asia-Pacific, Crédit Agricole CIB, said: “Asia-Pacific has always been a key, strategic footprint for the Bank, and mainland China plays an important role in our regional ambition. As an addition to the extensive Crédit Agricole CIB global network, this new, strategic set-up will strengthen the Bank’s capabilities to connect local and international clients to investment opportunities, both inbound and outbound, presented by the world’s second largest economy.”</td></tr><tr><td @style=""> </td><td @style=""> </td><td @style=""> </td></tr><tr><td @style=""><img @alt="" @data-entity-type="" @data-entity-uuid="" @src=""></img></td><td @style=""> </td><td @style="">Sébastien Pailhole, Head of Global Investment Banking for Asia-Pacific, Crédit Agricole CIB, said: “The WFOE marks the beginning of a new chapter for our investment banking business. As part of our core strategy, we are dedicated to fostering relationship with clients and prospects in mainland China by supporting their investment strategies through our best-in-class advisory services.”</td></tr><tr><td @style=""> </td><td @style=""> </td><td @style=""> </td></tr><tr><td @style=""><img @alt="" @data-entity-type="" @data-entity-uuid="" @src=""></img></td><td @style=""> </td><td @style="">Huai Yang, Head of Credit Agricole (Beijing) Advisory Services, said: “The WFOE effectively puts us in close proximity to all local and international clients based in mainland China, allowing us to be even more relevant and agile in responding to their evolving domestic needs. It also attests the Bank’s contribution to mainland China’s financial market development.”</td></tr></tbody></table><h2>About Crédit Agricole CIB in mainland China </h2>Having served clients in mainland China for over a century, Crédit Agricole CIB’s history in the country dates back to 1898. Today, mainland China, where Crédit Agricole CIB operates through one local incorporation – Crédit Agricole Corporate and Investment Bank (China) Limited with its five branches – Shanghai (headquarters), Beijing, Guangzhou, Tianjin, Xiamen – and a representative office in Shenzhen, has become a key growth engine for the Bank in Asia-Pacific. As a leading international corporate and investment bank, Crédit Agricole CIB offers a wide range of global markets, corporate banking, structured finance, and asset-based banking services to large corporates, financial institutions and multinational companies based in mainland China. Among the first foreign banks to be licensed for Chinese currency (RMB) operations, Crédit Agricole CIB is consistently considered one of the top Renminbi houses. 
  </body>

<body>Crédit Agricole CIB announced the set-up of its Wholly Foreign-Owned Enterprise (WFOE) - Credit Agricole (Beijing) Advisory Services Co., Ltd., commencing 10 March 2023.</body>

<body>Crédit Agricole CIB establishes Wholly Foreign-Owned Enterprise in mainland China</body>

<body><img alt="" data-entity-type="" data-entity-uuid="" src=""></img><h2>A milestone for Crédit Agricole CIB in China </h2>The new entity allows Crédit Agricole CIB to bolster its onshore strategic advisory capability on investment banking activities, reinforcing its commitment to grow with its clients in mainland China.The scope covered by Credit Agricole (Beijing) Advisory Services Co., Ltd. is focused on cross-border merger and acquisition, encompassing purchases, disposals and capital raising. The newly-created set-up aims to support clients’ business development by connecting them to new investors and also Crédit Agricole CIB’s global sectorial and green advisory network, enabling the Bank to better serve local and international customers in mainland China. <h2>Appointment of Huai Yang, Head of Crédit Agricole (Beijing) Advisory Services</h2>Huai Yang has been appointed Head of Crédit Agricole (Beijing) Advisory Services, effective immediately, to oversee the WFOE’s operation and develop the business segment for long-term success. Huai Yang reports to Sébastien Pailhole, Head of Global Investment Banking for Asia-Pacific, Crédit Agricole CIB.<table border="" cellpadding="" cellspacing="" style=""><tbody><tr><td style=""><img alt="" data-entity-type="" data-entity-uuid="" src=""></img></td><td style=""> </td><td style="">Jean-François Deroche, Senior Regional Officer for Asia-Pacific, Crédit Agricole CIB, said: “Asia-Pacific has always been a key, strategic footprint for the Bank, and mainland China plays an important role in our regional ambition. As an addition to the extensive Crédit Agricole CIB global network, this new, strategic set-up will strengthen the Bank’s capabilities to connect local and international clients to investment opportunities, both inbound and outbound, presented by the world’s second largest economy.”</td></tr><tr><td style=""> </td><td style=""> </td><td style=""> </td></tr><tr><td style=""><img alt="" data-entity-type="" data-entity-uuid="" src=""></img></td><td style=""> </td><td style="">Sébastien Pailhole, Head of Global Investment Banking for Asia-Pacific, Crédit Agricole CIB, said: “The WFOE marks the beginning of a new chapter for our investment banking business. As part of our core strategy, we are dedicated to fostering relationship with clients and prospects in mainland China by supporting their investment strategies through our best-in-class advisory services.”</td></tr><tr><td style=""> </td><td style=""> </td><td style=""> </td></tr><tr><td style=""><img alt="" data-entity-type="" data-entity-uuid="" src=""></img></td><td style=""> </td><td style="">Huai Yang, Head of Credit Agricole (Beijing) Advisory Services, said: “The WFOE effectively puts us in close proximity to all local and international clients based in mainland China, allowing us to be even more relevant and agile in responding to their evolving domestic needs. It also attests the Bank’s contribution to mainland China’s financial market development.”</td></tr></tbody></table><h2>About Crédit Agricole CIB in mainland China </h2>Having served clients in mainland China for over a century, Crédit Agricole CIB’s history in the country dates back to 1898. Today, mainland China, where Crédit Agricole CIB operates through one local incorporation – Crédit Agricole Corporate and Investment Bank (China) Limited with its five branches – Shanghai (headquarters), Beijing, Guangzhou, Tianjin, Xiamen – and a representative office in Shenzhen, has become a key growth engine for the Bank in Asia-Pacific. As a leading international corporate and investment bank, Crédit Agricole CIB offers a wide range of global markets, corporate banking, structured finance, and asset-based banking services to large corporates, financial institutions and multinational companies based in mainland China. Among the first foreign banks to be licensed for Chinese currency (RMB) operations, Crédit Agricole CIB is consistently considered one of the top Renminbi houses. 
  </body>

Crédit Agricole CIB establishes Wholly Foreign-Owned Enterprise in mainland China

<body><img @alt="" @class="" @data-entity-type="" @data-entity-uuid="" @height="" @src="" @width=""></img>This year’s strong line-up of issuers from Europe and the US, representing a wide cross-section of sectors, was reflected by significant interest from the global investor community and we were thrilled to welcome back in person over 400 attendees over the course of the day, back in person for the first time since 2019. 
  
We also hosted a series of topical panels moderated by Crédit Agricole CIB bankers, to discuss the dynamics and expected developments in the leveraged debt markets in Europe and the US.  The panelists included leading representatives from the buyside investor community, private equity, rating agencies, lawyers, credit strategists, ESG specialists and economists. The luncheon guest speaker was Lord Kim Darroch, KCMG, former British Ambassador to the United States.<table @border="" @cellpadding="" @cellspacing="" @style=""><tbody><tr><td @style=""> </td><td @style=""> </td></tr><tr><td @style=""><img @alt="" @data-entity-type="" @data-entity-uuid="" @src=""></img></td><td @style="">“This was once again a landmark event, sending a further strong signal to the market regarding Crédit Agricole CIB's continuing strategic commitment to the leveraged finance business.”Antonio Cosma, Global Head of Leveraged and Telecom Finance</td></tr><tr><td @style=""> </td><td @style=""> </td></tr><tr><td @style=""><img @alt="" @data-entity-type="" @data-entity-uuid="" @src=""></img></td><td @style="">“The feedback we have received from participants has been extremely positive, and this annual conference continues to be one of the leading events of its type in Europe, bringing together key issuer and investor clients from all over the world."Youssef Khlat, Deputy Global Head of Leveraged Finance</td></tr><tr><td @style=""> </td><td @style=""> </td></tr></tbody></table>We thank all our panelists, issuer and investor clients, partners, panelists and colleagues for once again making this conference a success and we look forward to seeing you again next year.</body>

<body>We hosted our 16th Annual Global High Yield and Leveraged Finance conference on 14 March. </body>

<body>Crédit Agricole CIB hosted its 16th Annual Global High Yield and Leveraged Finance conference</body>

<body><img alt="" class="" data-entity-type="" data-entity-uuid="" height="" src="" width=""></img>This year’s strong line-up of issuers from Europe and the US, representing a wide cross-section of sectors, was reflected by significant interest from the global investor community and we were thrilled to welcome back in person over 400 attendees over the course of the day, back in person for the first time since 2019. 
  
We also hosted a series of topical panels moderated by Crédit Agricole CIB bankers, to discuss the dynamics and expected developments in the leveraged debt markets in Europe and the US.  The panelists included leading representatives from the buyside investor community, private equity, rating agencies, lawyers, credit strategists, ESG specialists and economists. The luncheon guest speaker was Lord Kim Darroch, KCMG, former British Ambassador to the United States.<table border="" cellpadding="" cellspacing="" style=""><tbody><tr><td style=""> </td><td style=""> </td></tr><tr><td style=""><img alt="" data-entity-type="" data-entity-uuid="" src=""></img></td><td style="">“This was once again a landmark event, sending a further strong signal to the market regarding Crédit Agricole CIB's continuing strategic commitment to the leveraged finance business.”Antonio Cosma, Global Head of Leveraged and Telecom Finance</td></tr><tr><td style=""> </td><td style=""> </td></tr><tr><td style=""><img alt="" data-entity-type="" data-entity-uuid="" src=""></img></td><td style="">“The feedback we have received from participants has been extremely positive, and this annual conference continues to be one of the leading events of its type in Europe, bringing together key issuer and investor clients from all over the world."Youssef Khlat, Deputy Global Head of Leveraged Finance</td></tr><tr><td style=""> </td><td style=""> </td></tr></tbody></table>We thank all our panelists, issuer and investor clients, partners, panelists and colleagues for once again making this conference a success and we look forward to seeing you again next year.</body>