Natixis, Swiss Life agree infra debt deal

French bank Natixis and insurance firm Swiss Life have signed an infrastructure debt cooperation agreement – and revealed the first deal that they will jointly invest in.

Under the cooperation agreement, Swiss Life will invest €300m, while Natixis believes the move will enable it to further expand its infrastructure debt platform.

The two funders have also agreed to make their first investment under the agreement, with a deal to co-finance an offshore wind project already set up.

“This partnership agreement is another demonstration of institutional investors’ interest in infrastructure debt, just ahead of the easing of Solvency II European regulation which would occur in 2016,” said Natixis.

The bank has been busy developing cooperation agreements with institutional investors. In January this year it agreed a €250m deal with French insurer Macif, and in 2013 Natixis partnered with French insurer CNP Assurances, following a similar partnership the previous year with insurance firm Ageas.