Green Bond Fact Sheet

Imperial Irrigation District

Date: 09/07/2019

Issue date: 26-06-2019 Maturity date: 01-11-2041 Tenor: 22
Issuer Name

Imperial Irrigation
District

Amount Issued

USD65.2m

Country of risk

USA

CBI Database

Included

Issuer Type1

Local government

Bond TypeUS MuniGreen 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 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

None expected (see Bond Prospectus)
The Imperial Irrigation District is a fiscally responsible public agency whose mission it is toprovide reliable, efficient and affordably priced water and energy services to the Imperial
Valley in Southern California. Established under the State Water Code, the IID supplies
roughly 500,000 acres of Imperial Valley farmland with raw Colorado River water tosupport irrigation.

Firsts, records andcertifications
Proceeds description

The proceeds will be used to finance the purchase of the Sun Peak 1 photovoltaic
renewable energy project.
This follows the execution of a PPA for approximately 23MW of energy from Sun Peak 1 in2010, which contained a purchase option in year 6 of the agreement. The District exercised
its option to purchase Sun Peak 1 and is using the proceeds of this bond (Series 2019) topay the principal amount of outstanding Series B notes, which were used to finance thepurchase of Sun Peak 1.

Climate Bonds view

The Imperial Irrigation District’s decision to purchase Sun Peak 1 follows from a PPA in
2010. It is a great example of a District becoming more self-reliant and able to source
renewable power securely for the future.
It is also good to see the green US Muni universe continuing to expand. Issuance from
Californian agencies has been especially strong, and the state is sending a powerful
message to the rest of the country. We hope other government agencies follow,
particularly in other states.

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

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