Green Bond Fact Sheet

RCBC (Rizal Commercial Banking Corporation)

Date: 19-Feb-2019

Issue date: 01-Feb-2019 Maturity date: 01-Aug-2020 Tenor: 1Issuer NameRCBC (RizalCommercial BankingCorporation)

Amount Issued

PHP15bn (USD287m)

Country of risk

Philippines

CBI Database

Included

Issuer Type1

Financial corporate

Bond Type

Senior unsecured

Green Bond Framework

Link to 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☐ Wastewater
treatment☐ Water storage☐ Storm water mgmt
☐ 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
Reporting

The issuer will report on both proceed allocation and impacts annually. Examples ofimpact indicators are set out in the green bond framework.

Company information

Rizal Commercial Banking Corporation is based in Makati City, the Philippines. It
provides a wide range of financial products, both locally and internationally. The
company operates through Retail, Corporate, Treasury and others. (source)Firsts, records andcertifications

Largest debut deal from a Philippine green bond issuer.

Proceeds description

Proceeds are expected to be allocated to renewable energy, buildings, transport
and waste related project. To be eligible, green buildings must either meet
recognised standards, such as a minimum of 4 stars in the Philippines BERDE Green
Building Rating System, LEED Gold or above or belong to the top 15% of local low
carbon buildings. Under the transport category, freight rail infrastructure is eligible
only if not dedicated to the transport of fossil fuels.

Climate Bonds view

We welcome yet another green issuance from an ASEAN-based bank, confirming
the growth trend from the region.
The BERDE Green Building Rating System is new to us, so let’s put it into context.
The scheme is based on a 1 to 5 star rating scheme (5 is the highest) which is
calculated from 8 core areas, including energy efficiency & conversion, water
efficiency and conversion, green materials and emissions. Sustainalytics notes thatthe scheme puts more emphasis on water savings compared to LEED, but has lessstringent energy requirements than BREEAM. Achieving best-in-class certificationlevels would provide a higher assurance of the buildings’ green credentials.

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

HSBC, ING

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