Concert Properties

Date: 24/07/2020

Issue date: 09-07-2020 Maturity date: n/a Tenor: n/aIssuer nameConcert Properties

Amount issued

CAD72m/USD55m

Country of risk

CanadaCBI Database

Included

Issuer type1

Loan

Bond type

Loan

Green bond framework

Link to Framework

Second party opinion

N/A

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 emissionvehicles☐ 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☐ 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

As this is a Green Principles-aligned loan, Concert (i.e. the borrower) is required to reportannually (e.g. with a description of the green project, the amount allocated and the expectedimpact) to HSBC (i.e. the lender).
Owned exclusively by Canadian union and management pension funds since 1989, Concert
specializes in developing rental apartments, condominium homes and retirement
communities etc. The company has more than 20 buildings that have achieved LEED
certification and/or Tier-2 under the Toronto Green Standard, or Step-3 under the Provinceof B.C. Energy Step Code. One recent project is Tapestry, which is a 15-storey mixed-use
seniors rental and condominium residence with ground floor commercial space.

Firsts, records andcertifications
Proceeds description

HSBC Canada has issued a green loan for the Tapestry which is a building project withstrong green attributes including expected lower carbon and energy footprint.

Climate Bonds view

CBI welcomes the first green loan in Canada. HSBC is a market leader in sustainable finance,
as it supports green bonds issuance and provides green loans to finance sustainable
initiatives. We applaud Concert for the certified green buildings, but would like to see more
third-party oversight, external review and public disclosure.
N/A

Underwriters
Deal comments

1

Credit rating

N/A

Pricing summary

N/A

Investors summary

N/A

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