Green Bond Fact Sheet

Granite REIT Holdings

Date: 30/06/2020

Issue date: 04-06-2020 Maturity date: 04-06-2027 Tenor: 7
Issuer nameGranite REIT Holdings

Amount issued

CAD500m/USD384m

Country of risk

CanadaCBI Database

Included

Issuer type1

Financial Corporate

Bond typeSr Unsecured

Green bond framework

N/A

Second party opinion

Sustainalytics

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☒ 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

Until full allocation Granite will provide allocation and impact reporting on an annual basison the website or the annual report.
The allocation report will include:
eligible green projects and respective amounts
balance of unallocated proceeds
The impact report will include:level of green building certifications attained
other impact metrics where feasible (annual energy saved, renewable energy
generated, annual greenhouse gas emissions reduced/avoided,etc.)

Company information

Granite REIT is a Canadian real estate investment trust engaged in the acquisition,development, ownership and management of logistics, e-commerce, warehouse andindustrial properties. The company is headquartered in Toronto, Ontario, and doing
business in across nine countries in North America and Europe.

Firsts, records andcertifications
Proceeds description

The following categories are eligible under the framework:
•••
•
•
•

Climate Bonds view

Underwriters

Green buildings: purchase, development, re-development or improvement ofproperties that have received, or are expected to receive green building certificationsuch as LEED (Silver, Gold or Platinum) amongst others
Resource Efficiency and Management: improve energy or water efficiency or makeother environmentally beneficial improvements to properties or land, such as LED
lighting, cool roofs,etc.
Clean Transportation: infrastructure to accommodate electric vehicles
Renewable Energy: wind, solar or geothermal projects
Pollution Prevention and Control: remediation of contaminated soil as well as otherconstruction waste diversion projects
Biodiversity and Conservation: tree planting and ecological restoration activities topreserve biodiversity and native ecosystems

This is the first REIT from Canada to issue a green bond. It is good to see that theframework covers a broad spectrum of categories – this is rather rare for REITs, which
typically focus on financing green buildings or renewable energy projects. The reporting thecompany has committed to is very detailed, which we encourage and applaud.
BMO, Scotia

Deal comments
Credit rating

Baa2 (Moody’s)
BBB (DBRS)

Pricing summary•••

Yield: 3.062%
Coupon: 3.062%
Price: 100%

Investors summary

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