Green Bond Fact Sheet

Illinois Finance Authority

Date: 16-Apr-2019

Issue date: 16-04-2019 Maturity date: 01-07-2041 Tenor: 22Issuer Name

Illinois FinanceAuthority

Amount Issued

USD450m

Country of risk

USA

CBI Database

Included

Issuer Type1

Local government

Bond Type

Revolving fund revenuebonds

Green Bond Framework

N/A

Second party opinion

N/A

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

The IEPA will provide annual project-level updates, including each eligible project’s
Participant local government name, project name and description, loan amount andpercentage of it that has been disbursed, as well as the expected or actual completion date.
The reporting will be published on the Illinois Financial Authority’s website.
The Illinois Finance Authority (IFA), created in 2004, provides access to low-cost capital topublic and private institutions that are aligned with their mission of fostering economic
development, creating and retaining jobs, and improving quality of life for the State’sresidents.
IFA’s conduit financing programs cover every county, assisting e.g. farmers and agribusinesses, business and industry, school districts and higher education institutions,healthcare facilities, cultural and social entities, and local governments develop, upgrade,
expand, and sustain their operations and services.

Firsts, records andcertifications
Proceeds description

The proceeds will finance loans from the Illinois Environmental Protection Agency (IEPA) tolocal government units in Illinois State through the Illinois SRF (State Revolving Fund)
Programs. The loans were used to finance wastewater treatment, sanitary sewerage anddrinking water facilities. The projects will contribute to advancing the Clean Water Act andthe Safe Drinking Water Act in the state.

Climate Bonds view

We commend IEPA’s approach to reporting on the use of proceeds at individual projectlevel. This represents best practice in the market, particularly for US municipal / local
government issuance, for which this level of granularity is extremely rare.
Merrill Lynch Pierce Fenner & Smith Inc, Academy Securities Inc, Cabrera Capital Markets
LLC, Citigroup Global Markets Inc, Janney Montgomery Scott LLC, Loop Capital Markets LLC
and Mesirow Financial Inc

Underwriters
Deal comments
Credit Rating

Fitch: AAA; S&P: AAA

Pricing summary

Initial Offering Price/Yield: 118.436% / 2.9%

Investors summary

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