Green Bond Fact Sheet

Raiffeisen Schweiz Genossenschaft

Date: 20/05/2019

Issue date: 07-05-2019 Maturity date: 07-05-2024 Tenor: 5Issuer Name

Raiffeisen Schweiz
Genossenschaft

Amount Issued

CHF100m/USD98.3m

Country of risk

Switzerland

CBI Database

Included

Issuer Type1

Financial Corporate

Bond Type

Senior domestic public
Bond/Sustainability Bond

Green Bond Framework

Link to Framework

Second party opinion

ISS Oekom

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
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ 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

The issuer has published a performance report for the entire initial credit pool for its bond("Performance Kreditpool"). The report sets out the following indicators:• Estimated number of buildings financed• Percentage of certified buildings and type of certification• Final energy demand, and• CO2 emissions.
The issuer commits to reporting any changes to the performance of the credit pool within amaximum of one year.

Company information

Raiffeisen is the third-largest banking group in Switzerland. It serves approximately half ofthe Swiss population and has 1.9 million Cooperative members as its co-owners. The Groupis made up of 246 autonomous cooperative Raiffeisen banks, which together constitute theRaiffeisen Switzerland Cooperative. The Group has 880 locations throughout Switzerland,
CHF196 bn in assets under management (AUM) and CHF188bn in loans to clients (including
18% of the Swiss mortgage market).

Firsts, records andcertifications

Raiffeisen is the first non-government backed Swiss bank to enter the green bond market.
The bond is also the first one to exclusively finance (social) energy-efficient housing.

Proceeds description

Raiffeisen will allocate the proceeds of its Sustainability Bond towards loans to social
housing developers. The buildings will be energy efficient and generate low CO 2 emissions.
They will also meet recognized energy standards and certifications, including Minergie,Minergie-P, Minergie-A, GEAK A (for new buildings) or GEAK B (in existing buildings) or2000 Watts. The issuer also strives for the asset pool to be within the top 15% regarding
final energy consumption and CO2 emissions compared to the whole Swiss building stock.
The financed buildings will be mainly residential apartments, whose energy sources will belimited to the following:•Space heating and hot water: Heat pump, wood, pellets or district heating (if theenergy mix for district heating is better than average CO 2 emissions).

The assets must also be placed within a 1km walking distance public transport (bus, tram ortrain).
The homeowners can include a small amount of space for commercial use next to theirliving spaces. Other types of financed assets are, for example, accompanied living andretirement homes. These would typically include housing cooperatives that aredemocratically organized and exempt from sudden contract termination.
The companies constructing the assets must hold charitable status aligned with thefollowing:•Public benefit: a statement of non-profit status/orientation

•••

Affordable housing: a commitment to cost rent or rent below market price
Legal form: Foundations or public limited companies with charitable objectives
Controversy level: No controversies should have been reported for the assets

Climate Bonds view

Additional issuance from the Swiss banking sector, which holds a prominent spot in thecountry’s economy, is an encouraging sign. We especially like seeing the diversification ofissuance labels manifested in this bond with the dual benefits of social sustainability (in thiscase through social housing) and green (low carbon buildings in the top 15% of the Swiss
market, in accordance with the CBI Taxonomy).

Underwriters

Raiffeisen Switzerland (sole), Commerzbank AG

Deal commentsCredit Rating
Pricing summary

Coupon: 0.125% p.a.; IP/reoffer: 100.324%; Spread: ms+43bps; Yield: 0.060% p.a.

Investors summary

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