Green Bond Fact Sheet

Ghelamco Group

Date: 19/02/2020

Issue date: 21-01-2020 Maturity date: 21-01-2027 Tenor: 7
Issuer Name

Ghelamco Invest(Ghelamco Group)

Amount Issued

EUR20m/USD22m

Country of risk

Belgium

CBI Database

Included

Issuer Type1

Non-FinancialCorporate

Bond TypeSr 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☐ 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

Until the funds are fully allocated there will be annual reporting with an overview ofinstruments issued under this framework as well as the total amount outstanding (EUR). This
includes the allocation of net proceeds to a portfolio for which the composition andgeographical breakdown (country level) will be disclosed. Also, the share of financing andrefinancing as well as unallocated proceeds will be reported.
Impact indicators will also be published annually including the environmental classificationof the buildings for example BREEAM or LEED (including classification level where applicable).
There will also be selected case studies of eligible projects.
Ghelamco Invest is a holding company that provides real estate services through its
subsidiaries. It invests and develops real estate in Belgium, France, Poland and considers
further expansion. This includes the office market segment as well as activities in theresidential, retail, logistics and leisure markets.

Firsts, records andcertifications
Proceeds description

Proceeds will go towards financing or refinancing sustainable and energy efficient realestate projects. The main location of the projects will be Belgium, France and Poland. This
may potentially be complemented with Cyprus, Luxembourg, the United Kingdom and theNetherlands. In order to be eligible, projects need to be newly constructed, existing andrefurbished buildings which have received, or are designed to receive one of the followingclassifications:▪ BREEAM ≥ “Excellent”▪ Nearly Zero Energy Building (NZEB)▪ LEED ≥ “Gold”▪ DGNB ≥ “Gold”▪ HQE ≥ “Excellent”▪ EBPB / EPC label: A2

Climate Bonds view

Underwriters
Deal comments
Credit Rating

Belgium’s green debt comes mainly from Sovereign bonds and the last issuance from acorporation was in June 2018. Looking at corporate issuance from developed markets
Belgian green bonds only total up to USD728m. This is a chance for Belgian corporations tolook for opportunities to raise green debt.
SGPricing summary••Coupon: 4.250%
Price: 100%

Investors summary

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