Green Bond Fact SheetPT Sarana Multi Infrastruktur

Date: 13-Jul-2018

Issue date: 06-Jul-2018 Maturity date: 06-Jul-2023 Tenor: 5Issuer NamePT Sarana Multi
Infrastruktur

Amount Issued

IDR355bn (USD25m)

Country of risk

Indonesia

CBI Database

Included

Issuer Type1

Government-Backed
EntityBond TypeGreen Bond

Green Bond Framework

N/A

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 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
☐ 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 annually on proceed allocation and on the impact of the financed
projects, where metrics are available. The information will be made publicly available on theissuer’s website.

Company information

PT Sarana Multi Infrastruktur (PT SMI) is an infrastructure financing company
wholly owned by the Indonesian government and supervised by the Ministry ofFinance. The national entity supports the Government of Indonesia’s infrastructuredevelopment agenda by financing national or local infrastructure projects, project
development, and serves as a project financing adviser. It also mobilizes various
resources from bilateral/multilateral financial institutions and capital market
instruments.

Firsts, records andcertificationsFirst Indonesian green bond from a government-backed entity.

Proceeds description

Proceeds will be allocated to refinancing three light rail transit projects, two minihydro power plants, a water treatment plant and irrigation systems. A new copower generation power plant has also been proposed for financing under thisdebut issuance.
Eligible categories under the Green Bond Framework include renewable energy,transport, land use, water, waste and energy efficiency infrastructure
improvements targeting at least 10% energy consumption reduction compared to
the national average. Energy generation from fossil fuels is explicitly excluded fromthe framework. The land use category does not set out any eligibility requirements
for irrigation systems, and in its SPO, CICERO raises concerns over how irrigation
systems may “overdraw water fresh supplies, thereby threatening drinking water
sources and fragile ecosystems” and assigns this category a “medium green” score.

Climate Bonds view

Underwriters

We agree with CICERO on the concerns related to irrigation systems and would liketo see more details on the types of financed irrigation systems, as well as on theuse of the irrigated land. We will keep monitoring this deal’s proceed allocation toensure that all financed projects are aligned with the Climate Bonds Taxonomy. In
particular, if the co-generation facility turns out to be fossil fuel powered the bondmay be excluded from our database.
CGS-CIMB Sekuritas Indonesia PT, Danareksa Sekuritas PT, Maybank Kim Eng
Sekuritas PT

Deal comments
Credit Rating

idAAA (PEFINDO)

Pricing summary
Investors summary

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