Green Bond Fact Sheet

LISEA

Date: 04-Feb-2019

Issue date: 18-Jan-2019 Maturity date: 18-Jan-2054 Tenor: 35
Issuer Name

LISEA

Amount Issued

EUR905m (USD1.04bn)

Country of risk

FranceCBI Database

IncludedIssuer Type1

Non-financial
corporate

Bond Type

Project bondGreen Bond Framework

N/A

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 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

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

LISEA is the first private company in France to manage a railway
infrastructure dedicated to high speed. The concession of the High Speed
South Europe Atlantic Line between Tours and Bordeaux (LGV SEA) has been
entrusted to LISEA since 2011 until 2061. LISEA has financed over 50% of
this new infrastructure with private funds and is responsible for controllingthe construction costs of these 340 km of new lines. (source)Firsts, records andcertifications
Proceeds description

Proceeds are expected to refinance part of the High Speed South Europe
Atlantic Line between Tours and Bordeaux (LGV SEA).

Climate Bonds view

Transport sector allocations from French green bond issuers have been
increasing, reaching 35% of proceed allocations in 2018. Amongst rail
companies, both SGP and more recently SNCF have adopted the streamlined
Climate Bond Programmatic Certification process which is particularly suited
to large multiple green bond issuers. This deal also contributes to the upward
trend of investment flows in railway infrastructure. We encourage issuers tomake external reviews publicly available to enhance transparency.

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