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Industry roundup: 3 June

IntellectEU partners with Contour as network integrator 

Contour, the Singapore-based open trade finance network, has announced its partnership with IntellectEU, which will function as an integrator of Contour’s blockchain platform, automating back-office flows for both financial institutions and corporates.

Trade finance continues to be heavily paper-based due to a lack of trusted digital platforms that can be used on a global scale. Contour’s decentralised network aims to overcome this challenge, with a focus on building collaborative workflows between trade participants. To date, those on the network have seen efficiency gains, with Contour reporting a reduction in the process of a letter of credit (LC) by up to seven days. 

IntellectEU’s Catalyst Integration Solution (CAT-IS) allows financial institutions to securely exchange information in different data formats, linking their existing infrastructures together. As trade finance counterparties often utilise incompatible methods of processing data, IntellectEU’s offering allows for interoperability, bridging this communications gap. With this partnership, IntellectEU’s integration services will provide even greater efficiencies to the back-office systems of banks and corporates. IntellectEU’s clients will also enjoy streamlined communication and collaboration opportunities, without the disruption of overhauling their own operating and information systems.


Deutsche Bank issues own green bond for the first time

Deutsche Bank has, for the first time, successfully placed its own green bond in the market. The bond has a tenor of six years and a volume of €500m with a coupon of 1.375%. The proceeds of the issue will be used exclusively to refinance the bank’s own sustainable projects, such as the expansion of renewable energies. In mid-May, Deutsche Bank established the necessary framework for a green bond and also set itself concrete sustainability targets.

Deutsche Bank's Green Bond Framework defines the assets with which the bond is backed and what the proceeds may be used for. "Green" assets include loans and investments in companies, assets or projects in the fields of renewable energy, energy efficiency and so-called green buildings, which are constructed according to ecological and sustainable standards.

The bank's framework follows the principles for green bonds of the International Capital Market Association (ICMA) - an industry association of capital market participants that has been the standard-bearer in the sustainable bond market since 2014. In addition, the framework also follows the latest guidelines of the Technical Expert Group on EU Taxonomy, the future classification system for sustainable investments within the European Union.


BNP Paribas, China Investment Corporation and Eurazeo launch France-China Cooperation Fund

BNP Paribas, China Investment Corporation (CIC) and Eurazeo have announced the launch of the France-China Cooperation Fund with the first close for €400m. The Fund will be managed by Eurazeo.

The Fund is being established following plans previously announced in 2019, including a memorandum of understanding and a subsequent letter of intent signed in the presence of Presidents Xi Jinping and Emmanuel Macron. The Fund has now held a first close for a total amount of €400m, underwritten entirely by the BNP Paribas Group, CIC and Eurazeo.

The Fund will seek to invest in French and Continental European companies aiming to open new pathways for growth in China. Target companies are expected to be in sectors with significant opportunity in China and where Eurazeo has an established track record, including advanced industrials, business services, consumer goods and services, healthcare, and digital technology. The Fund is actively seeking new investment opportunities alongside Eurazeo’s middle market buyout strategies, Eurazeo Capital and Eurazeo PME. 

The initial partners may commit up to an additional €250m to the fund, within a limit of 25% of the Fund for each of BNP Paribas and CIC. Additional capital may be also raised from third parties.

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