Obayashi Corporation

Date: 29-Nov-2018

Issue date: 25-Oct-2018 Maturity date: 22-Oct-2023 Tenor: 5Issuer Name

Obayashi Corporation

Amount Issued

JPY10bn (USD89m)

Country of riskJapan

CBI Database

IncludedIssuer Type1

Non-financial
corporate

Bond TypeGreen Bond Framework

N/A

Second party opinion

DNV GL

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

GA1 (R&I)☒ 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☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ 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

Senior unsecured

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

Will take place annually up until full use of the proceeds. These will be available on
OBAYASHI Corporate Report and its website. It should include a description of theprojects and the value of the proceeds invested, as well as the associated qualitativeand quantitative environmental impacts (at least in terms of CO2).
OBAYASHI is one of the five largest contractors in Japan and it counts over 100
among subsidiaries and affiliated companies. It was founded in 1896, while
OBAYASHI Corporation was established in 1936. It has almost doubled the numberof its employees in the last four years (from 8500 to 14359)

Firsts, records andcertifications
Proceeds description

Climate Bonds view

Underwriters

Proceeds will finance three solar PV projects, an onshore and an offshore wind
power facility and a BELS 5 star certified commercial property. The offshore windproject will entail the construction of a Self Elevating Platform (SEP) to support thedevelopment of large-scale bottom mounted offshore wind facilities.
Green bond issuance from Japanese issuers has picked up significantly in 2018,with annual figures to date representing almost 40% of the country’s total
USD9.2bn issuance.
Nomura Securities Co., Ltd. (Book Runner) and Mitsubishi UFJ Morgan Stanley Co.,Ltd.

Deal comments
Credit Rating

Baa (Moody’s), A- (S&P)

Pricing summary

0,13% interest rate

Investors summary

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