Thanks to its active involvement in nurturing Socially Responsible Investment (SRI) market, Crédit Agricole CIB is a global leader in green and sustainability bonds*. With the aim to capture the tremendous growth opportunities in SRI market in Asia, Crédit Agricole CIB has continually broadened its SRI products and services offering to meet the demand from its clients in the region.
Recently, Crédit Agricole CIB has acted as Active Bookrunner and Joint Lead Arranger in USD 500 million 3.250% 10-year Senior Unsecured Energy Transition Bond for Castle Peak Power Company Limited (CAPCO), a strategically important subsidiary of CLP Power Hong Kong Limited (CLP Power), which is one of the two electricity providers in Hong Kong and supplies electricity to over 80% of Hong Kong’s population. CLP Power is a major constituent of CLP Group, which is comprises CLP Holdings Limited (listed on the HKSE under stock code: 2) and its subsidiaries.
The transaction is CAPCO’s inaugural issue under the USD 2 billion MTN Programme that it established in June 2017. The net bond proceeds will be used to refinance CAPCO’s new Combined Cycle Gas Turbine project that targets the reduction of carbon emissions through more efficient fuel mix strategy in line with the Hong Kong Government’s Climate Action Plan.
Francois Martin, Crédit Agricole CIB’s Senior Country Officer for Hong Kong, said, “We are very pleased to take the leading role in the first ever Energy Transition Bond for CLP Group. The successful completion of the deal reaffirms our strong commitment to developing the SRI market in Hong Kong where we have a well-established client base.”
Credit Agricole CIB’s Sustainable Banking department advises clients on the following products:
- Green, Social and Sustainibility Bonds (public and private placements)
- Green Loans and ESG-Indexed Loans
- Impact Investments for core clients or projects
It maintains close links with both socially responsible issuers and investors.
*Source: Bloomberg, Crédit Agricole CIB (As of October 17, 2017)
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK
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