Green Bond Fact Sheet

Ningbo City Rail Trans

Date: 27/03/2020

Issue date: 13-03-2020 Maturity date: 12-03-2023 Tenor: 3Issuer nameNingbo City Rail Trans

Amount issued

CNY2bn/USD288m

Country of risk

China

CBI Database

Included

Issuer type1

Government-Backed
EntityBond typeSr Unsecured

Green bond framework

Link to Framework

Second party opinion

Shanghai Brilliance Credit

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

N.ANingbo City Rail Transportation Group Limited Company offers transportation
infrastructure construction services. The company provides rail transit engineering
construction and other construction services. Ningbo City Rail Transportation Group also
operates engineering investments, real estate development, and other businesses.

Firsts, records andcertifications
Proceeds description

All proceeds will be used to refinance three metro lines in Ningbo City. Shanghai Brilliance
Credit provided a second party opinion report for this bond. The expected climate impactof this bond includes: avoid 645 tons of volatile organic compounds per year, avoid 179k
tons of coal equivalent per year, avoid 3.9k tons of CO emission per year, and avoid 377k
tons of CO2 per year, etc.

Climate Bonds view

In China, urban rail is one of the most financed green bond project types. We expect to seeeven more green bonds in the future providing funds for metro, light rail and intercity railtransit, given the ambitious urbanisation plans laid out by the Chinese government.
China Development Bank, China Construction Bank

Underwriters
Deal comments
Credit rating

AAA (Shanghai Brilliance Credit)

Pricing summary
Investors summary

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