Crédit Agricole CIB is pleased to confirm the signing of an agreement with ABN Amro for the acquisition of their US Shipping and Intermodal loan portfolios (already announced to the market by ABN Amro on the 12th July 2021), as well as a portion of their Asian Shipping loan portfolio.
This acquisition marks the entry of Crédit Agricole CIB in the Intermodal finance sector, a market that offers direct synergies with the bank’s existing ship-finance and rail-finance activities.
Crédit Agricole CIB is one of the world’s leading shipping banks and a leading arranger of financing solutions for the transportation sector. These acquisitions will further consolidate the bank’s presence in the strategic US and Asian shipping finance markets. In the new Intermodal finance activity, Crédit Agricole CIB will leverage on its core expertise across transportation, securitization and capital markets.
Thibaud Escoffier, Global head of Ship Finance at Crédit Agricole CIB: “The acquisition of these high-quality loan portfolios is another proof of the long-term commitment of Crédit Agricole CIB towards the all-important transportation sector. Our franchise and expertise are there to support Credit Agricole CIB clients in the transportation sector, at a time when all ship, rail and aircraft operators have to face the challenges thrown at them by the Covid crisis, while planning for the capital expenditures that will be required to achieve the necessary decarbonisation of their activities.”
