Eco (atlantic) Regulatory News (ECO)

21 Dec 2007 07:01

EcoSecurities Group plc21 December 2007 EcoSecurities and Credit Suisse announce completion of structured CER sale of over 5 million tonnes Dublin, 21st December, 2007: EcoSecurities, a leading company in the businessof sourcing, developing and trading carbon credits from greenhouse gas emissionreduction projects around the world, and Credit Suisse, one of the world'sleading banks, announce the completion of a structured sale of over 5 millionCertified Emission Reductions ("CERs"). The jointly developed structure holds the rights to credits from a diverse poolof Clean Development Mechanism ("CDM") projects, all of which have beendeveloped by EcoSecurities. This innovative structure meets demand from marketparticipants for exposure to different levels of CER delivery risk. The structure has been designed so that buyers benefit from EcoSecurities' CDMexpertise and a geographically and technologically diverse portfolio, withoutincurring on-the-ground development and transaction costs. Credit Suisse isTransaction Manager and supports the delivery of a portion of CERs, therebyenhancing the structure's credit profile. Credit Suisse also provided keystructuring expertise as well as distribution and marketing through its globalclient base. This joint effort significantly enhances EcoSecurities' commercialisationefforts by providing an approach for marketing large volumes of CERs atattractive price points to credit worthy counterparties. This transaction is asignificant step for the two companies as they look to co-operate on a broadrange of emission reduction origination and trading opportunities around theworld. It is the intention of both EcoSecurities and Credit Suisse to createfurther novel structures utilising different portfolios of compliance projects. Bruce Usher, CEO of EcoSecurities, commented, "This groundbreaking transactionreinforces our position as market pioneers, by providing an efficient solutionfor buyers to acquire CERs to meet compliance obligations, at prices thatreflect their appetite for risk. Buyers will benefit from the unique combinationof high-quality CER projects from EcoSecurities' portfolio with Credit Suisse'scredit rating and experience in structuring and transaction management. " Paul Ezekiel, Head of Carbon Trading at Credit Suisse, said, "The exceptionaldemand by CER buyers for this transaction reinforces our belief that this typeof structure provides significant value to buyers globally. We expect to developfurther innovative structures to meet this demand in the near future." -Ends- For further information please contact: EcoSecurities Group plcRachel Mountain, Global Marketing Manager +44 (0) 1865 202 635 Credit SuisseJack Grone, Corporate Communications +44 (0) 20 7888 6499Bruce Corwin, Corporate Communications (US) +1 212 325 0932 Citigate Dewe Rogerson +44 (0) 20 7638 9571Kevin Smith / Ged Brumby Editor's Notes: About EcoSecurities: EcoSecurities is one of the world's leading companies in the business oforiginating, developing and trading carbon credits. EcoSecurities structures andguides greenhouse gas emission reduction projects through the Kyoto Protocol,working with both project developers and buyers of carbon credits. EcoSecurities works with companies in developing and industrialising countriesto create carbon credits from projects that reduce emissions of greenhousegases. EcoSecurities has experience with projects in the areas of renewableenergy, agriculture and urban waste management, industrial efficiency, andforestry. With a network of offices and representatives in 36 countries on fivecontinents, EcoSecurities has amassed one of the industry's largest and mostdiversified portfolios of carbon projects. EcoSecurities also works with companies in the developed world to assist them inmeeting their greenhouse gas emission compliance targets. Utilising its highlydiversified carbon credit portfolio, EcoSecurities is able to structure carboncredit transactions to fit compliance buyers' needs, and has executedtransactions with both private and public sector buyers in Europe, North Americaand Japan. Working at the forefront of carbon market development, EcoSecurities has beeninvolved in the development of many of the global carbon market's most importantmilestones, including developing the world's first CDM project to be registeredunder the Kyoto Protocol. EcoSecurities' consultancy division has been at theforefront of significant policy and scientific developments in this field.EcoSecurities has been recognised as the world's leading greenhouse gas advisoryfirm over the last five years by reader surveys conducted by EnvironmentalFinance Magazine. EcoSecurities Group plc is listed on the London Stock Exchange AIM (ticker ECO).Additional information is available at www.EcoSecurities.com. Credit Suisse As one of the world's leading banks, Credit Suisse provides its clients withinvestment banking, private banking and asset management services worldwide.Credit Suisse offers advisory services, comprehensive solutions and innovativeproducts to companies, institutional clients and high-net-worth private clientsglobally, as well as retail clients in Switzerland. Credit Suisse is active inover 50 countries and employs approximately 47,000 people. Credit Suisse'sparent company, Credit Suisse Group, is a leading global financial servicescompany headquartered in Zurich. Credit Suisse Group's registered shares (CSGN)are listed in Switzerland and, in the form of American Depositary Shares (CS),in New York. Further information about Credit Suisse can be found atwww.credit-suisse.com. Investment Banking In its Investment Banking business, Credit Suisse offers securities products andfinancial advisory services to users and suppliers of capital around the world.Operating in 57 locations across 26 countries, Credit Suisse is active acrossthe full spectrum of financial services products including debt and equityunderwriting, sales and trading, mergers and acquisitions, investment research,and correspondent and prime brokerage services. This information is provided by RNS The company news service from the London Stock Exchange