Green Bond Fact Sheet

Issuer Name

La Banque Postale

Date: 1 May 2019

Issue date: 04-04-2019 Maturity date: 24-04-2029 Tenor: 10Issuer Name

La Banque Postale

Amount Issued

EUR750m (USD841m)

Country of risk

FranceCBI Database

Included

Issuer Type1

Government-backedentity

Bond Type

Senior non-preferredGreen Bond Framework

Framework

Second party opinion

Vigeo Eiris

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☐ 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 Issuer has committed to annually report on the Bonds, until the maturity of the Bonds
and later in case of material changes, through the annual Reports which will be publiclyaccessible on La Banque Postale’s website. The disclosure will include information on theallocation of proceeds at category level, as well as aggregate relevant environmental andsocial impacts.
Owned by La Poste, La Banque Postale provides a full range of banking services toindividuals, businesses and associations. The issuer offers personal banking, savings, loans,
online brokerage, customized services for youth, business funding, ecommerce, private
equity, asset management, and insurance policies.

Firsts, records andcertifications
Proceeds description

The net proceeds of the bond will exclusively finance or refinance, 47 loans dedicated torenewable energy projects. The initial EUR1.2bn renewables portfolio is split 55% wind and
45% solar, and, according to framework advisor Carbone 4, is equivalent to at least an
estimated 35,800 tonnes of CO2 avoided per year.

Climate Bonds view

La Banque Postale’s issuance follows La Poste’s – its parent group – in late 2018 and adds
to the relatively diverse pool of French financial corporate issuers, becoming the sixth of
the kind. However, it stands out from the other five in that it is part of La Poste, a stateowned entity. This issuance therefore reiterates the French Government’s commitment tofinancing green (as well as social) projects, after several government-backed and sovereignissuances, which is very welcome.
Crédit Agricole, BBVA, ING, Natixis, Société Générale

Underwriters
Deal comments
Credit Rating
Pricing summary

Pricing tightened to 85bp over, with more than EUR2.5bn of orders good at that level, andthe size was set at EUR750m. Both green and non-green new issues from financial
institutions have been sold without paying a premium over secondary curves in recent
weeks in a bullish market, and La Banque Postale’s deal even came 2bp through fair value.

Investors summary

According to the leads, the deal attracted strong interest from ESG-driven and green
investors. “If we compare this to the 10 year senior non-preferred we issued last year, wehave twice as many investors in the book,” said Heckel (Head of Long-term Funding),“which shows how you get much more traction from the investor base with the greenformat.”
Asset managers were allocated 52% of the paper, insurance companies and pension funds
40%, central banks and official institutions 4%, banks and private banks 3%, and others 1%.

French accounts took 52% of the issue, Germany and Austria 16%, the Benelux 12%, the UK
6%, the Nordics 6%, southern Europe 6%, and others 2%.

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