Crédit Agricole CIB structures the first green ABCP refinancing of trade receivables

Crédit Agricole CIB structures the first green ABCP backed by trade receivables contributing to the energy and environmental transition for €25 million.

water managementCrédit 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 ABCP 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.”