| Crédit Agricole CIB arranges the first green bond in Asia issued by a container shipping company Crédit Agricole CIB acted as lead green structuring advisor, global co-coordinator and co-bookrunner for the offering of a three-year, US$300 million senior unsecured green bond by the world’s seventh-largest shipping company, Evergreen Marine. It was very well received by the international investor community, with a final oversubscription of 6.3 times The proceeds from the offering will be used by Evergreen Marine to finance the acquisition of large methanol-fuelled dual-fuel container ships, designed to reduce carbon emissions. This transaction marks several ‘firsts’ in the sector: it is the first international green bond issued in Asia by a container shipping company, the first unrated US dollar-denominated green bond issued from Taiwan, and Evergreen Marine’s first international green bond. Finally, it is also the first international green bond issuance in the Asian shipping sector to comply with the strict ‘substantial contribution’ criteria of the EU taxonomy, thereby setting a pioneering benchmark in the global sustainable finance sector. This initiative also promotes sustainable development in Taiwan and sets a precedent in a carbon-intensive sector that needs to transition towards more sustainable practices. |