Green Bond Fact Sheet

Patrimonio Autónomo Titularización TMAS-1 (FDN)

Date: 09/12/2019

Issue date: 02-07-2019 Maturity date: TBC Tenor: TBC
Issuer Name

Patrimonio Autónomo
Titularización TMAS-1(Financiera deDesarrollo Nacional)

Amount Issued

COP131.5bn (USD41m)

Country of risk

Colombia

CBI Database

Included (sustainabilitybond)Issuer Type1

Development bank

Bond Type

TBC

Green Bond Framework

Sustainability BondFramework

Second party opinion

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

Sustainalytics

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

Annual allocation reporting will be provided, including the average value of financing
provided to each of the four acquisition concessionaires. The Framework also specifies key
environmental and social impact indicators which will be reported upon annually. These KPIs
include the number of buses purchases, a measure of local air quality, the number ofpassengers from disadvantaged groups using the four BRT corridors.

Company information

BONUS Gestión de Activos S.A.S. (BONUS), a financial advisory firm which provides
structuring and financial products for companies, governments, and investors, andFinanciera de Desarrollo Nacional S.A. (FDN), a state development bank that specializes ininfrastructure project finance and structuring, have established two Special Purpose
Vehicles (the “SPVs”) to finance the acquisition of buses for four concession contracts
awarded by the Empresa de Transporte del Tercer Milenio – TransMilenio S.A.
(TransMilenio) for Bogota’s BRT system.

Firsts, records andcertificationsFirst sustainable bond from Colombia, and the first labelled bond from a Colombian
development bank in 2019. Also, the first from Colombia to only finance transport projects.

Proceeds description

The proceeds from the bond will be used by the concessionaires to purchase up to 741
compressed natural gas (CNG) buses for operation on up to four corridors of TransMilenio’s
BRT system. The vehicles will be compliant with EURO VI emissions standards.
The bond will be repaid using future cash flows from TransMilenio journeys, although a
12% contingency liquidity line will also be provided by FDN.

Climate Bonds view

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

The Latin American region is in serious need of investment in low-carbon
infrastructure, particularly in low-carbon mass transport. As highlighted in our recent
LAC State of the Market report, this sustainable bond issuance complements othersimilar investments made in Colombian cities this year, that include a fleet of 125
electric buses in Cali and new 64 electric buses in Medellín.
Financiera de Desarrollo Nacional and BONUS Gestión de Activos S.A.S. (structured the twoSPVs under which the bond was issued)

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