entity.node.canonical

Access Client Services

Follow us on LinkedIn (Opens in new window)

LinkedIn

Twitter

Follow us on Youtube (Opens in new window) 

YouTube

Governance and organisation of Crédit Agricole CIB

Discover Crédit Agricole CIB

Crédit Agricole CIB in the world

Financial security

FATCA-AEOI

Fight against corruption

Directive MiFID II

Client protection

Terms of business

Dodd Frank Disclosures and notices

Compliance rules

About Us

Offering structured finance solutions

Facilitating your commercial transactions

Supporting your financing needs

Distribution & Asset Rotation

Solutions to support your financing strategy

This business line is responsible for the origination, syndication and origination activities that enable our clients to cover their capital financing needs via the market.

Equity Capital Markets

Crédit Agricole CIB supports its clients in their capital transactions, disposals, acquisitions and strategic partnerships, in France and internationally.

Mergers & Acquisitions

The Structured Financial Solutions business line designs innovative bespoke financing solutions to meet the complex challenges of our clients.

Structured Financial Solutions

Offering investment banking advisory expertise

Flow products

Structured products

Debt Capital Markets & Syndication

Securitisation

Global Markets Research

Treasury

Providing Capital Markets solutions

Financing services for Midcaps

Financing services for Tech companies

Financing services for investment funds

Wealth management for family offices

Accompanying you with your specific financing needs

Expertise

Our CSR policy

Our climate commitments

Our sectoral policies

Equator principles

Crédit Agricole Group and Crédit Agricole CIB frameworks & reporting

Our sustainable financing policies

Our sustainable financing solutions

Solidarity and cultural patronage

Management of our daily environmental impacts

Our solidarity & sustainable actions

Social Responsibility & Sustainable Finance

Why join us?

Our commitments to diversity and inclusion

Our activities

Our optimised career management

Crédit Agricole CIB works with students and recent graduates to help them discover the Bank’s business lines and initiate their career paths.

Our offers for students and young graduates

Careers

News

Regulated information

Search

Access services

entity.webform.canonical

Contact us

This is Uruguay’s inaugural Sustainability-Linked Bond, the second-ever from a sovereign issuer and the first-ever featuring the possibility of either a coupon step-up or step-down.

description

https://www.ca-cib.com/api/image?url=http%3A%2F%2Fbo-en-instit-cacib.adsi.credit-agricole.fr%2Fsites%2Fdefault%2Ffiles%2Fstyles%2Fog_image_fb%2Fpublic%2Fthumbnail.jpg%3Fh%3Dec041e41%26itok%3DRstK9Kb8

The Republic of Uruguay obtains a Sustainability-Linked Bond

https://www.ca-cib.com/news/republic-uruguay-obtains-sustainability-linked-bond

abstract

Proceeds will be used for general purposes of the government. The coupon adjustment is based upon Uruguay’s compliance with preset Sustainability Performance Targets tied to two Key Performance Indicators outlined in Uruguay’s Sovereign Sustainability-Linked Bond Framework:Greenhouse Gas emissions intensity as a share of GDPMaintenance of native forest areaOur Bank is the only one globally mandated as a Sustainability Structuring Bank and Joint Bookrunner for the two Sovereign sustainability-linked bonds.We are very proud of it, for it represents a continuation of our leadership in the ESG capital markets field.Click here to read the press release.   
, full_html

articleBody

Crédit Agricole CIB

author

dateModified

datePublished

headline

image

mainEntityOfPage

name

publisher

@type

The Republic of Uruguay obtains a Sustainability-Linked Bond | Crédit Agricole CIB

title

twitter:description

twitter:image

twitter:title

twitter:card

<body>Proceeds will be used for general purposes of the government. The coupon adjustment is based upon Uruguay’s compliance with preset Sustainability Performance Targets tied to two Key Performance Indicators outlined in Uruguay’s Sovereign Sustainability-Linked Bond Framework:<ol><li>Greenhouse Gas emissions intensity as a share of GDP</li><li>Maintenance of native forest area</li></ol>Our Bank is the only one globally mandated as a Sustainability Structuring Bank and Joint Bookrunner for the two Sovereign sustainability-linked bonds.We are very proud of it, for it represents a continuation of our leadership in the ESG capital markets field.<a @class="link-pdf" @href="http://deuda.mef.gub.uy/innovaportal/file/30759/3/press-release-sslb-usd-2034.pdf ">Click here to read the press release.</a>  <img @alt="Picture and quote about Romina Reversi, Head of Sustainability Investment Banking Americas" @src="https://www.ca-cib.com/sites/default/files/inline-images/Quote%20Romina%201000%20529_1.jpg"></img> </body>

<body>This is Uruguay’s inaugural Sustainability-Linked Bond, the second-ever from a sovereign issuer and the first-ever featuring the possibility of either a coupon step-up or step-down.</body>

Green finance

Americas

<body>Proceeds will be used for general purposes of the government. The coupon adjustment is based upon Uruguay’s compliance with preset Sustainability Performance Targets tied to two Key Performance Indicators outlined in Uruguay’s Sovereign Sustainability-Linked Bond Framework:<ol><li>Greenhouse Gas emissions intensity as a share of GDP</li><li>Maintenance of native forest area</li></ol>Our Bank is the only one globally mandated as a Sustainability Structuring Bank and Joint Bookrunner for the two Sovereign sustainability-linked bonds.We are very proud of it, for it represents a continuation of our leadership in the ESG capital markets field.<a class="link-pdf" href="http://deuda.mef.gub.uy/innovaportal/file/30759/3/press-release-sslb-usd-2034.pdf ">Click here to read the press release.</a>  <img alt="Picture and quote about Romina Reversi, Head of Sustainability Investment Banking Americas" src="https://www.ca-cib.com/sites/default/files/inline-images/Quote%20Romina%201000%20529_1.jpg"></img> </body>

<body>This transaction confirms the Bank’s ability support energy transition across the globe and demonstrating continued support to its clients.<img @alt="" @data-entity-type="file" @data-entity-uuid="4ec483a8-8362-4a62-bf0f-0c9a71bfbc02" @src="https://www.ca-cib.com/sites/default/files/inline-images/cacib-image-in-text.jpg"></img><h2>Boa Sorte is a pioneer PV Solar Project in Brazil</h2>The Boa Sorte Solar Power Project, sponsored by Norsk Hydro in partnership with Atlas Renewable Energy Brazil (wholly owned by GIP), closed and disbursed a 22-year non-recourse financing of USD 210 million with the purpose of funding the construction of the Greenfield 438MW solar power project in Minas Gerais state, Southeast of Brazil. 
Boa Sorte is a pioneer PV Solar Project in Brazil as it has a 20-year USD-linked Power Purchase Agreement with Norsk Hydro’s Brazilian subsidiary ALBRAS, in a market that most of the PPAs are in BRL. <h2>This transaction is the first USD-linked renewable project financed by BNDES</h2>It tells a long and successful story of GIP/ATLAS and Norks Hydro. Boa Sorte will contribute to the net zero objectives of Nork Hydro. 
The anchor long term financing was structured with the Brazilian National Development Bank, BNDES, and is fully secured by non-recourse completion bank guarantees provided by Crédit Agricole CIB and Itau. The completion bank guarantees will be in place throughout the construction period + certain thresholds of generation and revenues are achieved. This transaction adds to our active presence and track-record in the Brazilian Power sector and is already assisting to bring future opportunities arising from the strong pipeline with top level international sponsors. 
 <table @border="0" @cellpadding="1" @cellspacing="1" @style="width: 846px;"><tbody><tr><td><img @alt="" @data-entity-type="file" @data-entity-uuid="76b234e0-1bd1-49f0-89d3-dc599f8ec345" @src="https://www.ca-cib.com/sites/default/files/inline-images/Aquino-cacib-150-150.jpg"></img></td><td @style="width: 7px;"> </td><td @style="width: 673px;">“Crédit Agricole CIB is very happy to support since the inception this landmark transaction with key clients which falls within Crédit Agricole CIB’s global ambition to grow our renewable energy portfolio. This transaction is the first solar project ever closed by Crédit Agricole CIB in Brazil and also the first USD-linked renewable project financed by BNDES.”Daniel Aquino, Managing Director, head of Energy Real Assets Brazil</td></tr><tr><td> </td><td @style="width: 7px;"> </td><td @style="width: 673px;"> </td></tr><tr><td><img @alt="" @data-entity-type="file" @data-entity-uuid="54577c02-7f5d-496f-83eb-ac220ce122c2" @src="https://www.ca-cib.com/sites/default/files/inline-images/Nowak-cacib-150-150.jpg"></img></td><td @style="width: 7px;"> </td><td @style="width: 673px;">“We are pleased to support GIP & Norsk Hydro in this landmark project in the Brazilian renewable energy market. It is a strong representation of CA-CIB’s commitment to championing green transition projects in support of key clients globally, also highlighting our deep sector and regional expertise.”Michael Nowak, Managing Director, Global Head of Infrastructure Coverage</td></tr></tbody></table> </body>

<body>The Bank acted as Mandated Lead Arranger for the completion bank guarantee.</body>

Crédit Agricole CIB participated in the Project Financing to develop the Solar Power Project Boa Sorte in Brazil

<body>This transaction confirms the Bank’s ability support energy transition across the globe and demonstrating continued support to its clients.<img alt="" data-entity-type="file" data-entity-uuid="4ec483a8-8362-4a62-bf0f-0c9a71bfbc02" src="https://www.ca-cib.com/sites/default/files/inline-images/cacib-image-in-text.jpg"></img><h2>Boa Sorte is a pioneer PV Solar Project in Brazil</h2>The Boa Sorte Solar Power Project, sponsored by Norsk Hydro in partnership with Atlas Renewable Energy Brazil (wholly owned by GIP), closed and disbursed a 22-year non-recourse financing of USD 210 million with the purpose of funding the construction of the Greenfield 438MW solar power project in Minas Gerais state, Southeast of Brazil. 
Boa Sorte is a pioneer PV Solar Project in Brazil as it has a 20-year USD-linked Power Purchase Agreement with Norsk Hydro’s Brazilian subsidiary ALBRAS, in a market that most of the PPAs are in BRL. <h2>This transaction is the first USD-linked renewable project financed by BNDES</h2>It tells a long and successful story of GIP/ATLAS and Norks Hydro. Boa Sorte will contribute to the net zero objectives of Nork Hydro. 
The anchor long term financing was structured with the Brazilian National Development Bank, BNDES, and is fully secured by non-recourse completion bank guarantees provided by Crédit Agricole CIB and Itau. The completion bank guarantees will be in place throughout the construction period + certain thresholds of generation and revenues are achieved. This transaction adds to our active presence and track-record in the Brazilian Power sector and is already assisting to bring future opportunities arising from the strong pipeline with top level international sponsors. 
 <table border="0" cellpadding="1" cellspacing="1" style="width: 846px;"><tbody><tr><td><img alt="" data-entity-type="file" data-entity-uuid="76b234e0-1bd1-49f0-89d3-dc599f8ec345" src="https://www.ca-cib.com/sites/default/files/inline-images/Aquino-cacib-150-150.jpg"></img></td><td style="width: 7px;"> </td><td style="width: 673px;">“Crédit Agricole CIB is very happy to support since the inception this landmark transaction with key clients which falls within Crédit Agricole CIB’s global ambition to grow our renewable energy portfolio. This transaction is the first solar project ever closed by Crédit Agricole CIB in Brazil and also the first USD-linked renewable project financed by BNDES.”Daniel Aquino, Managing Director, head of Energy Real Assets Brazil</td></tr><tr><td> </td><td style="width: 7px;"> </td><td style="width: 673px;"> </td></tr><tr><td><img alt="" data-entity-type="file" data-entity-uuid="54577c02-7f5d-496f-83eb-ac220ce122c2" src="https://www.ca-cib.com/sites/default/files/inline-images/Nowak-cacib-150-150.jpg"></img></td><td style="width: 7px;"> </td><td style="width: 673px;">“We are pleased to support GIP & Norsk Hydro in this landmark project in the Brazilian renewable energy market. It is a strong representation of CA-CIB’s commitment to championing green transition projects in support of key clients globally, also highlighting our deep sector and regional expertise.”Michael Nowak, Managing Director, Global Head of Infrastructure Coverage</td></tr></tbody></table> </body>

<body><img @alt="" @src="https://www.ca-cib.com/sites/default/files/inline-images/image_0.jpg"></img>Host Hotels & Resorts, Inc., closed a $2.5 billion SLL, the first ever two-way pricing Sustainability-Linked Credit Facility (SLL) for a U.S. Lodging REIT, and the nation’s largest Lodging REIT. The Bank acted as the sole Sustainability Structuring Agent on the transaction.The transaction reflects Host Hotels & Resorts strong commitments to industry-leading ESG initiatives. The facility will be subject to an annual pricing adjustment based upon the company’s successful or failed compliance with specific Sustainability Performance Targets (SPTs) tied to two Key Performance Indicators (KPIs).Specific sustainability targets include, increasing the number of hotels in the portfolio with green building certifications to 38% by 2027 and increasing the percentage of electricity used at all consolidated properties that is generated by renewable resources to 38% by 2027 that contribute to Host’s Science Based Targets initiative verified carbon emissions goal and the resilience of their portfolio. <figure @class="table"><table><tbody><tr><td><img @alt="" @src="https://www.ca-cib.com/sites/default/files/inline-images/Romina_reversi_cacib_150_150.jpg"></img></td><td>“Our Bank is thrilled to have partnered with Host Hotels & Resorts on the first ever two-way pricing Sustainability-Linked Loan for a U.S. Lodging REIT. The KPIs showcase Host Hotels & Resorts leadership in expanding sustainable finance into the hotel sector and commitment to ESG initiatives.”Romina Reversi, Head of Sustainable Investment Banking Americas</td></tr><tr><td> </td><td> </td></tr></tbody></table></figure> </body>

<body>Crédit Agricole CIB acted as Sole Sustainability Structuring Agent for Host Hotels & Resorts $2.5 Billion Sustainability-Linked Credit Facility Financing.</body>

Host Hotels & Resorts secures a $2.5 Billion Sustainability-Linked Credit Facility Financing

<body><img alt="" src="https://www.ca-cib.com/sites/default/files/inline-images/image_0.jpg"></img>Host Hotels & Resorts, Inc., closed a $2.5 billion SLL, the first ever two-way pricing Sustainability-Linked Credit Facility (SLL) for a U.S. Lodging REIT, and the nation’s largest Lodging REIT. The Bank acted as the sole Sustainability Structuring Agent on the transaction.The transaction reflects Host Hotels & Resorts strong commitments to industry-leading ESG initiatives. The facility will be subject to an annual pricing adjustment based upon the company’s successful or failed compliance with specific Sustainability Performance Targets (SPTs) tied to two Key Performance Indicators (KPIs).Specific sustainability targets include, increasing the number of hotels in the portfolio with green building certifications to 38% by 2027 and increasing the percentage of electricity used at all consolidated properties that is generated by renewable resources to 38% by 2027 that contribute to Host’s Science Based Targets initiative verified carbon emissions goal and the resilience of their portfolio. <figure class="table"><table><tbody><tr><td><img alt="" src="https://www.ca-cib.com/sites/default/files/inline-images/Romina_reversi_cacib_150_150.jpg"></img></td><td>“Our Bank is thrilled to have partnered with Host Hotels & Resorts on the first ever two-way pricing Sustainability-Linked Loan for a U.S. Lodging REIT. The KPIs showcase Host Hotels & Resorts leadership in expanding sustainable finance into the hotel sector and commitment to ESG initiatives.”Romina Reversi, Head of Sustainable Investment Banking Americas</td></tr><tr><td> </td><td> </td></tr></tbody></table></figure> </body>

<body>This year, as part of our annual partnership between Crédit Agricole CIB and New York Cares, New York Employees volunteered at Fort Greene Park in Brooklyn, to renovate the park and help slow down the deterioration of the soil. Crédit Agricole CIB New York contributed in maintaining a safe and clean environment for citizens to enjoy throughout the year. About New York Cares: New York Cares is New York City's largest organization, dedicated to finding volunteers for more than 1,300 nonprofits, public schools and civic organizations. Crédit Agricole CIB New York's partnership with New York Cares offers colleagues the opportunity to help in local community service projects.<div @class="video-embed-field-responsive-video"><iframe @allowfullscreen="allowfullscreen" @frameborder="0" @height="480" @src="https://www.youtube.com/embed/Fg4bmMco0RE?autoplay=0&start=0&rel=0" @width="854"></iframe></div>Learn more about our patronage policy here: <a @href="https://www.ca-cib.com/about-us/committed-and-responsible/active-patronage-policy-society " @target="_blank">https://www.ca-cib.com/about-us/committed-and-responsible/active-patronage-policy-society </a></body>

<body>Crédit Agricole CIB New York Employees volunteered at Fort Greene Park in Brooklyn to provide a secure and clean environment for citizens in New York. </body>

<body>How synergies lead to a positive social and environmental impact with New York Cares</body>

<body>This year, as part of our annual partnership between Crédit Agricole CIB and New York Cares, New York Employees volunteered at Fort Greene Park in Brooklyn, to renovate the park and help slow down the deterioration of the soil. Crédit Agricole CIB New York contributed in maintaining a safe and clean environment for citizens to enjoy throughout the year. About New York Cares: New York Cares is New York City's largest organization, dedicated to finding volunteers for more than 1,300 nonprofits, public schools and civic organizations. Crédit Agricole CIB New York's partnership with New York Cares offers colleagues the opportunity to help in local community service projects.<div class="video-embed-field-responsive-video"><iframe allowfullscreen="allowfullscreen" frameborder="0" height="480" src="https://www.youtube.com/embed/Fg4bmMco0RE?autoplay=0&start=0&rel=0" width="854"></iframe></div>Learn more about our patronage policy here: <a href="https://www.ca-cib.com/about-us/committed-and-responsible/active-patronage-policy-society " target="_blank">https://www.ca-cib.com/about-us/committed-and-responsible/active-patronage-policy-society </a></body>

The Republic of Uruguay obtains a Sustainability-Linked Bond

FindThe latest related news

Crédit Agricole CIB participated in the Project Financing to develop the Solar Power Project Boa Sorte in Brazil

Host Hotels & Resorts secures a $2.5 Billion Sustainability-Linked Credit Facility Financing

How synergies lead to a positive social and environmental impact with New York Cares