Samsung Card Issues Industry-First Overseas Institution-Certified 'ESG Foreign Currency ABS'

Total $300 Million, Average Maturity 5 Years, Investor BNP Paribas

Samsung Card held a commemorative ceremony on the 29th at the State Tower Namsan Building with investor BNP Paribas to celebrate the industry's first overseas certified ESG (Environmental, Social, and Governance) foreign currency ABS issuance. Ki-Hong Ahn, Head of Management Support at Samsung Card, and Philippe Noirault, BNP Paribas Korea Representative (right in the photo), are posing for a commemorative photo. Photo by Philippe Noirault

[Asia Economy Reporter Ki Ha-young] Samsung Card announced on the 30th that it has issued the industry's first ESG (Environmental, Social, and Governance) foreign currency asset-backed securities (ABS), with BNP Paribas participating as an investor.

The ABS issued this time has an average maturity of 5 years and a total size of 300 million dollars. Samsung Card plans to use the funds raised through this for ESG management activities. Previously, Samsung Card obtained certification from the overseas ESG certification agency Sustainalytics for issuing ESG foreign currency ABS.

As social interest and demand for ESG management increase, Samsung Card continues related activities such as issuing ESG bonds, establishing and holding a Sustainable Management Committee, setting up an ESG Secretariat, and supporting social economy enterprises.

A Samsung Card official said, "Investor interest in ESG is continuously increasing in both domestic and overseas financial markets, and Samsung Card is diversifying its funding portfolio by issuing ESG-based bonds and ABS," adding, "We plan to continue active ESG management activities going forward."