Green Bond Fact SheetBTS Group

Date: 06/06/2019

Issue date: 24-05-2019 Maturity date: 24-05-2029 Tenor: Max. 10 years (5 tranches)
Issuer NameBTS Group

Amount Issued

THB13bn/USD408m

Country of risk

ThailandCBI Database

Included

Issuer Type1

Non-financial corporate

Bond TypeSenior unsecured

Green Bond Framework

Link to Framework

Second party opinion

N/A

Certification Standard

Climate Bonds Standard
V2.1 including

Assurance report

Pre-Issuance Verification

Sustainalytics

Green bond rating

N/A☐ Energy☐ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ 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☐ Industry: components☐ Adaptation & resilience•
Certification Verifier

Low Carbon Transport

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

An annual report will be made available publicly on the issuer’s website. It will include
details on the allocation and use of proceeds as well as performance indicators, suchas passenger figures.

Company information

BTS Group is one of the largest companies in Thailand. Whilst its core business focuseson its 97.5% ownership of the Bangkok Skytrain (BTS), it also has other businessinterests, including advertising, property development and software development.
Approximately two-thirds of the company’s revenues come from its BTS network.

Firsts, records andcertifications

This is the second Certified Climate Bond and the third green bond to be issued inThailand. The deal is the first in Southeast Asia to be certified against the Low Carbon
Transport criteria.

Proceeds description

The proceeds will be exclusively allocated to developing the BTS Skytrain network. BTSSkytrain is an electricity-powered elevated metro rapid transit network in Bangkok. It
is currently comprised of two lines with 36km of track and 43 stations. Extensions tothese lines, as well as new lines, are under construction and will ultimately amount toat least 64km of new track and 53 new stations. This means a tripling of the current
network track length.

Climate Bonds view

Southeast Asia has experienced rapid population growth and urbanisation in recentyears. The development of low carbon transport modes in these cities have not kept
up with the demand and this has resulted in massive congestion and air pollution
problems. Green bonds will provide a useful conduit for directing fresh financing
towards the development of such networks and contribute towards more sustainabletransport modes.

Underwriters

Bangkok Bank PCL, Siam Commercial Bank PCL

Deal comments
Credit Rating“A / Stable” from TRIS

Pricing summary

5 tranches with coupons ranging from 2.51% to 3.86%

Investors summary

1

Oversubscribed 8 times, by institutional investors and high net worth individuals

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