Groupe BPCE successfully completes its first green Covered Bond issue
Groupe BPCE successfully completed on May 19, 2020 the placement of its first Covered Bond issue to refinance energy-efficient homes, for an amount of 1.25 billion euros and a maturity of ten years.
The assets selected are financing purchases of main individuals residences newly built or under construction, dating from less than 3 years, in accordance with the environmental regulations in force RT2012 and located in France.
The placement was made with an order book of 6.4 billion euros, with close to 180 investors present in 20 countries. This success illustrates the confidence renewed by investors in Groupe BPCE for its commitment in financing the energy transition.
After five public issues of social bonds representing a volume of more than 3.1 billion euros and now three public issues of green bonds representing a volume of 2.1 billion euros, Groupe BPCE confirms its leading position as a player engaged in the responsible financing of territories.
The Banque Populaire and the Caisses d'Epargne, very involved in social and environmental matters, were supported by the expertise of BPCE SA and the Green & Sustainable Hub of the Natixis’ CIB to formalize the methodological elements regarding this program. The dedicated methodological note is available on the Groupe BPCE institutional website (https://groupebpce.com/en/investors/funding/green-bonds). This note has been reviewed by Vigeo Eiris, "Second Party Opinion Provider", who provides the highest level of insurance for this methodology.
For Nicolas Namias, Head of Finance and Strategy and member of the Management Board of Groupe BPCE: « The success of this new green issue illustrates the commitment of Groupe BPCE to promote the energy transition and more generally the sustainable financing of our territories. In the very specific situation we are living in, the support of our clients, especially in social and environmental aspects, is a priority for all the companies of our group. »
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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).
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