Crédit Agricole CIB achieves record positions in Asia’s Debt Capital Markets notably in ESG
No.1 European bank in Asia’s Debt Capital Markets space
The Covid-19 hiatus didn’t stop Crédit Agricole CIB from becoming the No.1 European bank in Asia ex-Japan for G3* investment grade by total value in 2021 according to Bloomberg. Also up two places from the previous year among international peers, the achievement underlines our resilience in a volatile market. In 2021, the Bank advised and assisted issuers in placing c. USD10 billion of debt in Asia across sovereign, financial institutions and corporate issuers.
Our added value to clients lies in our distribution and trading capabilities and the solution expertise we offer - ESG, liability management and capital advisory and solutions. Our international network, private placement capabilities and cross-border investor base with liquidity pools in Asian currencies, USD and EUR, have also grown significantly in recent years, offering issuers an extensive choice. This has enabled us to establish trusted relationships with clients and consistently win significant market recognitions, most recently The Asset Triple A Country Awards, The Asset Triple A Sustainable Capital Markets Awards and the GlobalCapital Asia Awards 2021. And for the first time ever, Crédit Agricole CIB became No.1 worldwide in the Global Medium Term Note (MTN) League Tables (all currencies, in EUR and in USD) by total value in 2021, according to Dealogic.
In terms of geographies, South Korea, Greater China, Japan and Southeast Asia remained our core markets by Net Banking Income. Crédit Agricole CIB ranked No.2 in the 2021 Korean DCM league tables according to Bloomberg, a position confirmed by the Korea International Bond award (Korean Paper) received from Yonhap Infomax in January.
*G3 referring to G3 currencies: USD, EUR, JPY; HSBC and Standard Chartered being considered as Asian banks.
Leading player in the sustainable Debt Capital Markets
Committed to accompanying regular issuers and new entrants in their journey towards sustainable finance, Crédit Agricole CIB boasts a strong track record in ESG bond:
- No.2 in Asia for international investment grade green bonds (all currencies) by total value in 2021 according to Dealogic and No.1 European bank. The Bank has led USD4.45 billion of green bond issuances, representing 8.7% of the Asian offering.
- No.3 in Greater China for international investment grade sustainable bonds including green, social, sustainability and sustainability-linked bonds (all currencies) by total value in 2021 according to Dealogic and No.1 European bank, up five places compared to 2020. Crédit Agricole CIB has led USD2.77 billion of sustainable bond issuances, representing 7.9% of the Chinese offering and our commitment to Chinese Debt Capital Market.
As the ESG bond market in Asia continues to mature, the markets also saw plenty of first and innovations and Crédit Agricole CIB was leading many of them including, as illustrated by IFR Asia’s ESG House of the Year 2021 and The Asset Triple A Sustainable Capital Markets’ Best Green Adviser 2021 awards:
- The world’s first sustainability-linked bond from a Global Systemically Important Bank (G-SIB) by China Construction Bank,
- The world’s first International Capital Market Association (ICMA) handbook-linked transition bond by Bank of China,
- The first overseas carbon neutrality themed green bond issuance from a Chinese commercial bank by Industrial Bank Hong Kong branch,
Future ambition – 2022 and beyond
“The ESG momentum is expected to continue in 2022 which could bring new sustainable bond records and themes driven mainly by growing demand from the Asia-Pacific investors, the development of supportive regulations (taxonomies) providing clarity and transparency in defining the use of proceeds, and increased commitments of sovereigns, financial institutions and corporate to reach carbon neutrality. To meet clients' climate change ambitions, Crédit Agricole CIB will continue to beef up its ESG expertise, while aiming to reinforce its ESG presence in Japan and Southeast Asia through sustainable offerings.
We intend to pursue our expansion in the DCM business in Asia-Pacific, including leveraging our ongoing momentum in Korea, further developing our Greater China franchise as China continues to open up and is now the second largest issuer of green bonds in the world, as well as integrating DCM in our product offerings to clients in Australia where we are now a licenced bank.”
Christophe Crétot, Head of Debt Origination & Advisory (Debt Capital Markets and Corporate & Leveraged Finance) Asia-Pacific