Crédit Agricole CIB partners with Danone to structure its 1st social bond
Crédit Agricole CIB supported Danone for their first social bond. The €300 million transaction is the first bond with social impact issued by a multinational aligned with the new "Social Bonds Principles” as set out in June 2017 by the International Capital Market Association.
Funds raised will be used to finance and refinance projects that include positive social impacts, such as research and development in Danone’s medical nutrition division, support to farmers in the implementation of responsible practices or enhancement of the Danone employees health care coverage in the world. With this new major social transaction, Crédit Agricole CIB confirms its position as world leader in green and sustainable bonds.
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According to Crédit Agricole CIB figures, the Social Bonds market represented USD9.2Billion in 2017, in strong growth over the last years. Until now, these bonds were mainly issued by public or similar entities.
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