Crédit Agricole Corporate and Investment Bank (CIB) has acted as Sole Green Structuring Agent and Active Joint Bookrunner for Pacific Life’s inaugural €600 million ($688 million) green bond, marking the insurance company’s entry into the euro-denominated sustainable finance market.
The issuance attracted interest from a broad base of global investors and positions Pacific Life as a labelled debt issuer in both euro and US dollar markets. According to the company’s Sustainable Bond Framework, proceeds from the bond will be allocated to eligible green projects, including renewable energy and environmentally certified buildings.
The framework received a second-party opinion from Sustainalytics, confirming its alignment with the Technical Screening Criteria and Minimum Safeguards of the EU Taxonomy.
Joe Krum, Head of the Global Institutional Investment Group at Pacific Life, stated that the green bond supports the company’s objective of delivering long-term value through diversified, responsible investment strategies.
Romina Reversi, Head of Sustainable Investment Banking for the Americas at Crédit Agricole CIB, noted that the transaction reflects growing interest among U.S. issuers in sustainable finance formats and contributes to the ongoing expansion of the labelled bond market.
The deal reinforces Crédit Agricole CIB’s position in the green finance sector and builds on its relationship with Pacific Life within the sustainable capital markets space.
