Green Bond Fact Sheet

Société de Financement Local (SFIL)

Date: 20/11/2019

Issue date: 13-11-2019 Maturity date: 13-11-2029 Tenor: 10Issuer Name

Caisse Française deFinancement Local(Caffil) - Société deFinancement Local(SFIL)

Amount Issued

EUR750m/USD827m

Country of risk

FranceCBI Database

IncludedIssuer Type1

Development bank

Bond TypeCovered bondGreen Bond Framework

GB Framework

Second party opinion

Sustainalytics

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☐ Solar☐ Onshore wind☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☒ Transport☐ Electric vehicles☐ Low emissionvehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☒ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingCompany information

On an annual basis, until full allocation of proceeds, allocation and impact reporting
will be made available to investors on the SFIL Group website.
For allocation reporting, the following will be included: the total amount of proceeds
allocated to each Green Bond by Eligible Green Loan category; the total number ofEligible Green Loans associated with each Green Bond; average lifetime of the loans;the amounts of financing vs refinancing; the total amount of unallocated proceeds
and, when possible, the types of temporary investments.
For impacts, since the Group will be working with many underlying loans, theamount of detail may be limited, and information may be presented in generic terms
or on an Eligible Green Project category basis. Furthermore, the issuer will strive toalign its reporting with reporting templates as suggested by the EU Green Bond
Standard and the Harmonized Framework for Impact Reporting.
SFIL Group is a French local government and export financing agency. It provides
financing for long-dated funding for French local public sector investments. SFIL is a
100% publicly owned, fully regulated financial institution overseen by theEuropean Central Bank (ECB). CAFFIL, the issuing entity, is a subsidiary of SFIL
Group which refinances loans to public sector authorities through the issue of‘obligations foncières’ (covered bonds).
In partnership with La Banque Postale, SFIL Group has provided more thanEUR27bn in loans since 2013 to the French local public sector. Together, theyfinance a significant share of green investments of local authorities in line with thesustainable development goals, in areas including clean local public transport,
water treatment, waste recycling and green public buildings. Since May 2019, SFIL
Group – in partnership with La Banque Postale – is proposing loans under a specificgreen loan format to finance environmental projects by French local authorities.

Firsts, records andcertifications

Only the second green bond from a French development bank (previous one wasby AFD in 2014!) – however, there have been many by other public sector entities,
especially government-backed entities and local governments.
First green covered bond from France.

Proceeds description

To finance/refinance, in whole or in part, existing/future projects that are aimed at
improving French social infrastructure and environmental protection through anumber of projects in the following eligible areas:
1. Territorial mobility and soft urban transport: Clean Transportation

2. Sustainable Water and Sanitation Management: Sustainable water andwastewater management, Pollution prevention and control, Climate changeadaptation
3. Waste Management and Valuation: Pollution prevention and control
4. Energy efficiency of construction and urban development: Energy efficiency,Green Buildings
5. Renewable energy
Climate Bonds view

Underwriters

The breadth of projects fits well with public sector investment in green
infrastructure. SFIL Group also issued a social bond in March. SFIL works with La
Banque Postale, a green bond issuer in its own right and one of the largest French
investment groups. Green loans to French local authorities are originated by La
Banque Postale and then transferred to SFIL to be refinanced through the issuanceof green bonds. This allows SFIL to finance the French public sector at scale.
CACIB, HSBC, Natixis, SocGen, Unicredit

Deal comments
Credit Rating

1Pricing summary

Yield: 0.112%. Spread: mid-swaps +2 basis points / OAT +13.2 basis points

Investors summary

Press release contains breakdown of investors by region and typeIssuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign