Paris, September 2023 - Crédit Industriel et Commercial is pleased to announce the success of its recent securitisation refinancing for a leading shipping group.

In March 2023, CIC strengthened its commitment to a shipping group by providing substantial funding through securitisation. This is designed to meet the group's working capital requirements in a favourable environment for the shipping industry. The funds will enable the Group to increase its cash position with a view to potential strategic acquisitions and the development of its activities. The securitisation structure enables CIC to reduce its direct exposure to customer risk.

This initiative is part of CIC's overall strategy to actively support its customers through a comprehensive range of bespoke financial services, which already include marine financing and tailored bank account management services. It demonstrates our ongoing commitment to our customers and to building strong partnerships.