Credit Agricole : Icade signs a solidarity-based revolving credit line with Crédit Agricole CIB and Crédit Agricole d’Ile-de-France for €150m
June 17, 2020 at 12:12 pm EDT
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Over the term of the credit line, Institut Pasteur will first receive up to €300,000 from Icade to support Covid-19 research programmes, in particular those relating to candidate vaccines. This allocation may subsequently be reassessed based on medical research priorities, in consultation between Icade and Institut Pasteur.
This new funding brings Icade's secured credit lines to over €2bn and strengthens its liquidity position.
This transaction has allowed Icade, Crédit Agricole CIB and Crédit Agricole d'Ile-de-France to innovate by creating a product that provides a source of additional sustainable financing to players in the solidarity economy.
This innovative transaction was arranged by Crédit Agricole CIB.
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Crédit Agricole SA published this content on 17 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2020 16:11:06 UTC
Crédit Agricole S.A. is one of the leading European banking groups and is the leading financial backer of the French economy. Net Banking Product breaks down by activity as follows:
- retail banking (30.1%): activities in France (Crédit Lyonnais) and abroad. Furthermore, the group is present in France via its 39 regional networks of branches (making it the biggest French banking network);
- finance, investment and market banking (30.1%): standard and specialized bank financing activities (financing for acquisitions, projects, aeronautical and maritime assets, etc.), stock operations, consulting in mergers and acquisitions, investment capital, etc.;
- asset management, insurance and private banking (25.9%);
- specialized financial services (13.9%): consumer loan, leasing and factoring (No. 1 in France).
At the end of 2023, Crédit Agricole S.A. managed EUR 835 billion in current deposits and EUR 516.3 billion in current credits.
NBP is distributed geographically as follows: France (46%), Italy (20%), European Union (14.3%), Europe (7.2%), North America (6%), Japan (1.3%), Asia and Oceania (3 .5%), Africa and Middle East (1.3%), Central America and South America (0.4%).