The innovative 100% green issue programme by Société du Grand Paris to finance the “Grand Paris Express” project!

To cover the financing needs of Société du Grand Paris (SGP), the public company in charge of building the new greater Paris transport network, Crédit Agricole CIB participated in structuring the €5 billion Green Euro Medium Term Note (EMTN) programme. Crédit Agricole CIB acted as Green Structuring Advisor, Global Coordinator and Joint Lead Manager.

All the bonds issued by the public operator will be "green", which represents a major innovation. They will be used solely to finance the "Grand Paris Express", the future greater Paris automated metro network, which will consist of 200 kilometres of additional lines, i.e. doubling the current network, as well as 68 stations and 7 technical centres. The Grand Paris Express is currently the largest urban project in Europe totalled €35 Billion.

With a significant positive impact in the fight against climate change, namely 27 million tonnes of CO2 equivalent avoided by 2050, many co-benefits, economic (€10bn to 15bn in GDP per year) and social (115,000 jobs created), as well as in terms of urban planning, this programme provides CACIB with the opportunity to actively participate in an exceptional project in the framework of the ecological and energy transition, and a strategic public investment for the country and for the region. 

“It is a true pleasure and honour to support the Société du Grand Paris in this innovative financing approach and to have structured the first 100%-green EMTN programme. This programme fits with the flagship Grand Paris Express project and meets its multiple challenges. This project is at the core of the ecological and energy transition and sustainable mobility challenges, as well as employment and territorial development issues. Credit Agricole CIB continues to be an undisputed player in green and responsible finance

Nathalie Sarel, Executive Director, Sustainable Banking

“Société du Grand Paris is implementing the Grand Paris Express project, which will cost €35 billion to build. Grand Paris Express meets several major challenges for the Ile-de-France region: it will accelerate its economic growth and the attractiveness of its territory, improve the quality of life of the inhabitants of greater Paris by making their transport easier and by bringing service to isolated and disadvantaged areas, and accelerate the modal shift from cars to public transport. This mandate is the culmination of several years of work. It is also the first time that a fully-green EMTN programme has been structured, which demonstrates Credit Agricole CIB’s ability to innovate”.

Gilles Musquin, Senior Banker