Green Bond Fact Sheet

Reginn HF

Date: 28/07/2020

Issue date: 23-07-2020 Maturity date: 23-07-2050 Tenor: 30
Issuer nameReginn HF

Amount issued

ISK5bn/USD41m

Country of risk

Iceland

CBI Database

Included

Issuer type1

Non-FinancialCorporate

Bond type

Private Placement

Green bond framework

Link to Framework

Second party opinion

CICERO

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 emission
vehicles☐ 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☒ Waste management☒ Recycling☒ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ 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
Reporting

There will be allocations as well as impact reporting on an annual basis on the green financing
website until maturity of the bonds.
The report will include the amount of financing as well as the assets in the pool including
examples of assets; the share of financing vs refinancing and unallocated proceeds. It will
also include amongst other impact indicators the share of renewable energy used, type andlevel of certification, energy performance, CO 2 scope 1 and 2 emissions as well as water
intensity.

Company information

Reginn is a real estate company from Iceland focussed on the commercial and public
sector. Reginn has a portfolio of 116 properties and invests in, develops and manages
commercial real estate.

Firsts, records andcertificationsFirst non-financial corporate from Iceland issuing a green bond.

Proceeds description

There are five categories eligible for financing and refinancing: Green buildings, renewableenergy, energy efficiency, pollution prevention and control, and clean transportation.
Reginn states that it is likely that a vast majority of the funds will be used for refinancing
existing buildings without a defined look-back period. The green buildings category is
expected to account for 90% and less than 5% going to energy efficiency and cleantransportation.
Explicitly excluded from financing are fossil-based activities, nuclear energy, weapons anddefense, potentially environmentally negative resource extraction, gambling or tobacco.

Climate Bonds view

This marks the first non-financial corporate from Iceland to issue a green bond, as wellas the second largest issuance from the country. None of the Icelandic green bonds
issued so far have come with allocations into green buildings that match Reginn’s. It isgreat to see the greening of the housing market in Iceland and the encouraging signals
toward more issuance from non-financial corporates.

Underwriters
Deal comments
Credit rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign