First Healthcare Bond: Groupe BPCE confirms its interest in socially-responsible investment
A week after issuing the first Samurai Social-impact Bond, Groupe BPCE has issued a Healthcare Bond in the form of a private placement with life insurer Nippon Life, a Japanese leader in socially-responsible investment
Following the success of its inaugural Samurai Social-impact Bond Issue priced on 23 June 2017, Groupe BPCE is once again showing its interest in socially-responsible investment, this time by making its first-ever issue of a Healthcare Bond. It is also a first for Nippon Life as an investor.
The issue is intended to refinance the loans granted to the customers of the group’s 15 regional Banques Populaires and 16 regional Caisses d’Epargne in the healthcare sector. The loans will be selected as a priority from among the Human Health and Social Action sectors based on the French Classification of Economic Activities (NAF) published by INSEE. Taking the form of a private placement, the transaction amounts to USD 50 million (roughly €44 million) and has a ten-year tenor.
Commenting, Olivier Irisson, Chief Financial Officer of Groupe BPCE, said: « We are very pleased that Nippon Life, known as an investor committed to integrating environmental, social and governance (ESG) criteria in its investment policy, has invested in this new Social-impact Bond specifically targeting the healthcare sector. We hope that the transaction will mark an important step forward for both Groupe BPCE and Nippon Life in their social responsibility policies. »
The transaction demonstrates Groupe BPCE’s ambition to return regularly, where conditions allow, to the social-impact, green and sustainable bond markets, regardless of the currency.
Linked topic
Groupe BPCE becomes the first bank to issue a Samurai social-impact bond
June 22, 2017
Today, BPCE has successfully completed the marketing of the first yen-denominated social impact bond on the Japanese market. This inaugural social issue totalling 58.1 billion yen (approximately[...]
Related links
About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
The press area was created by BPCE in order to make it easier for professionals to access Groupe BPCE press releases, images, videos, computer graphics, etc. (hereafter referred to collectively as the “Content”). This Content can be used to illustrate all publications, reports, articles or, more generally, any document or medium designed to inform the public of Groupe BPCE’s activity. You are not allowed to use the Content for commercial or publicity purposes. You are not allowed to modify the Content (except for changes of format). The Content is regularly updated by BPCE, therefore you should frequently access the press area in order to ensure you use the latest version of the Content. Your attention is also drawn to the fact that the Content contains elements considered to be intellectual works protected by copyright law and notably by France’s intellectual property code. Consequently, the photo credit (shown at the bottom right of the photo) and the mention [source BPCE] must be displayed in all publications (printed or electronic). Any user who fails to respect these conditions shall be liable vis-à-vis BPCE, the author of the Content or his/her beneficiaries and, where applicable, the persons whose image is reproduced in the Content. By downloading and, more generally, using all or part of the Content you agree to these terms.