Green Bond Fact Sheet

The City of Seattle

Date: 28/08/2020

Issue date: 05-08-2020 Maturity date: 01-07-2050 Tenor: 29.9
Issuer name

The City of Seattle

Amount issued

USD198m

Country of risk

USA

CBI Database

IncludedIssuer type1

Local Government

Bond type

US MuniGreen bond framework

N/A

Second party opinion

Kestrel VerifiersCertification 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
ReportingCompany information

The City of Seattle will be posting continuing disclosures to the Municipal Securities
Rulemaking Board done annually on the EMMA system. There will also be an annual reporthighlighting the current environmental stewardship projects, energy use, and otherpertinent metrics.
The City of Seattle was incorporated in 1869 and is a general purpose government thatprovides a broad range of services such as streets, parks, libraries, utilities amongst others.
It owns and operates water, electric, solid waste and drainage and wastewater utilities.

Firsts, records andcertifications
Proceeds description

The proceeds will go towards certain capital improvements to and conservation programsfor the municipal light and power plant and system. This includes improvements to its
electric utility system spanning from hydroelectric power generation, transmission anddistribution infrastructure for renewable energy to improving grid reliability and preparing
city infrastructure for the future of sustainability energy.

Climate Bonds view

This is the first green US Muni issuance from the state of Washington. The number ofelectricity grids being connected to renewable energy sources and boosting transmission isincreasing, and commonly financed with green bonds. Also seen in the non-financial
corporate space, it is great to note US Muni issuers are starting to do the same.
WFS

Underwriters
Deal comments
Credit rating

AA (S&P)

Pricing summary•••

Yield: 1.780%
Coupon: 4.000%
Price: 120.077%

Investors summary

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