Crédit Agricole CIB has advised O-I Glass on structuring its refreshed Green Financing Framework and Green Bond issuance (USD 690m 8NC3 at 7.25%, EUR 600m 5NC2 at 6.25%).

O-I Glass, Inc. is an American company that specializes in container glass products. It is one of the world's leading manufacturers of packaging products, and is the largest manufacturer of glass containers in North America, South America, Asia-Pacific and Europe.

The Green Bond issuance provides for an amount equal to the net proceeds to be allocated to certain eligible green projects, including:

  • Projects and investments aimed at increasing utilization of renewable energy
  • Investments in energy efficient solutions in offices, plants and warehouses
  • Use of new technologies aimed at reducing potable water consumption in manufacturing processes
  • Projects, investments, and R&D aimed at improving the production technologies and processes in manufacturing facilities, and facilitating the use of alternative resources
  • Projects involving waste collection and/or glass recycling processing
  • Projects aimed at decreasing the use of raw materials, and using sustainable raw materials to produce environmentally friendly products

“O-I, the first ever glass packaging company to issue a green bond, issued its second green bond marking the largest ever green bond from a US packaging company. Our bank is thrilled to have acted as Sole Lead Green Structuring Agent on the transaction supporting OI’s thought-leadership and commitment to driving meaningful environmental change.” says Romina Reversi, Head of Sustainable Investment Banking Americas at Crédit Agricole CIB.

About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)

Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 10th largest banking group worldwide in terms of balance sheet size (The Banker, July 2022). More than 8,900 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.

For many years Crédit Agricole CIB has been committed to sustainable development. The Bank was the first French bank to sign the Equator Principles in 2003. It has also been a pioneer in Green Bond markets with the arrangement of public transactions from 2012 for a wide array of issuers (supranational banks, corporates, local authorities, banks) and was one of the co-drafter of Green Bond Principles and of the Social Bond Guidance. Relying on the expertise of a dedicated sustainable banking team and on the strong support of all bankers, Crédit Agricole CIB is one of the most active banks in the Green bonds market.

For more information, please visit www.ca-cib.com

Crédit Agricole Corporate and Investment Bank

Jenna Lee Head of Communications for the Americas Email: jenna.lee@ca-cib.com Tel: +1 212 261 7328

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