Crédit Agricole CIB Acts as Sole Green Structuring Agent and Active Joint Bookrunner in Pacific Life's Inaugural EUR Green Bond
NEW YORK--(BUSINESS WIRE)--Crédit Agricole CIB recently acted as Sole Green Structuring Agent on Pacific Life's inaugural EUR 600mm Green Bond.
Pacific Life provides a variety of products and services designed to help individuals and businesses in the retail, institutional, workforce benefits, and reinsurance markets and has supported its policyholders for nearly 160 years.
The offering has garnered significant interest from global investors, underscoring Pacific Life's commitment to sustainable finance and green investment while solidifying its position as a labelled debt issuer in both EUR and USD.
As provided in Pacific Life's Sustainable Bond Framework, an amount equal to the net proceeds from the sale of the Green Bonds will be allocated to fund green investments including renewable energy and green buildings.
'This green bond issuance reflects Pacific Life's ongoing efforts to meet the evolving needs of the global capital markets and offer diversified investment opportunities to our stakeholders,' said Joe Krum, Head of the Global Institutional Investment Group, Pacific Life. 'Responsible investing is a key component of our broader investment strategy, and this transaction supports our goal of delivering long-term value through a well-balanced investment approach. We view green bonds as a natural extension of our capabilities and a way to broaden our presence in the market while aligning with investor demand.'
The framework obtained a positive second party opinion from Sustainalytics as well as an evaluation on alignment of the use of proceeds with the Technical Screening Criteria and Minimum Safeguards of the EU Taxonomy.
'We are honored to have played a role in Pacific Life's return to the sustainable finance market with an inaugural EUR Green Bond,' added Romina Reversi, Head of Sustainable Investment Banking for the Americas at Crédit Agricole CIB. 'The transaction underscores Pacific Life's impressive thought leadership and dedication to continual investment in green activities. We hope the success of the transaction will inspire other US issuers to come to market in labelled format.'
The closing of Pacific Life's Green Bond marks the continuation of an important relationship for Crédit Agricole CIB's franchise and further solidifies the bank's status as a market leader in sustainable financing.
About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm of Crédit Agricole Group, the 9 th largest banking group worldwide by total assets 2023 (The Banker, July 2024). With over 9,500 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa, the Bank supports large and mid-cap corporates and institutional clients, helping them meet both local and international financial needs. Crédit Agricole CIB offers a comprehensive range of products and services in capital markets, investment banking, structured finance, commercial banking and international trade. The Bank is committed to supporting its clients in their transition to a low-carbon economy and to aligning its own activities toward net zero. In line with its ambitions, Crédit Agricole CIB is a pioneer and a global leader in sustainable finance (co-founded the Equator Principles, co-authored the Green Bond Principles and Sustainability-Linked Bond Principles).
For more information, please visit www.ca-cib.com.
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