Green Bond Fact Sheet

Host Hotels & Resorts

Date: 21/10/2019

Issue date: 26-09-2019 Maturity date: 15-12-2029 Tenor: 10.2
Issuer Name

Host Hotels & Resorts

Amount Issued

USD650m

Country of risk

USA

CBI Database

Included

Issuer Type1

Financial corporate

Bond TypeGreen 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☐ Energy performance☐ 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☐ Wastewater treatment☐ 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
Reporting

Host Hotels has committed to annual reporting, available on its website, until full allocation ofproceeds, and this will include the LEED levels achieved and the allocation of the net proceeds
to eligible projects. However, since the proceeds are expected to be spent on or about the issue
date, it is likely that only one of such reports will be published.

Issuer information

Host Hotels & Resorts is a Real Estate Investment Trust. It owns or hold controlling interests inhotel lodging properties in different countries in North America, South America and Europe.
Services include equity holdings, asset management, capital allocation, and valueenhancement.

Firsts, records andcertificationsFirst US lodging REIT to issue green bonds.

Proceeds description

The proceeds will finance the acquisition and development of hotels that have received or areexpected to receive LEED Silver, Gold or Platinum certification, as well as refurbishments toproperties in order to significantly improve energy efficiency and/or water efficiency. The deal
will refinance the acquisition of Andaz Maui and the 1 Hotel South Beach, each of which hasreceived LEED Silver certification.

Climate Bonds view

Main GB issuance in the REIT space comes from Hong Kong, Japan and the USA. It is great that
more issuers are coming to the market in this space, especially the first US lodging REIT. We
hope this will encourage more REITS and hotel companies to issue green bonds. Recently
Grupo Pestana (Portugal) and a Japanese REIT have issued a GB for hotels: we hope to see
more issuance linked to hospitality properties.

Underwriters

Bank of America, Deutsche Bank, Goldman Sachs, Morgan Stanley, Wells Fargo, JP Morgan

Deal comments
Credit Rating

Baa2 (Moody’s)
BBB- (S&P)
BBB (Fitch)

Pricing summary••

Coupon: 3.375%
Price: 99.218%

Investors summary

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