Green Bond Fact Sheet

Cubico Sustainable Investments

Date: 31/10/2019

Issue date: 22-10-2019 Maturity date: N/A Tenor: N/A
Issuer Name

Cubico Sustainable
Investments

Amount Issued

EUR173m (USD193m)

Country of riskUK

CBI Database

Included

Issuer Type1

Non-FinancialCorporate

Bond Type

Project financeGreen Bond Framework

N/A

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 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
ReportingCompany information

Founded in May 2015, Cubico Sustainable Investments is a major investor in the renewableenergy sector, backed by two of Canada’s largest pension funds (Ontario Teachers’ Pension
Plan and PSP Investments). Cubico’s global portfolio in ten countries has an installed grosscapacity of approximately 3.1 GW. Its HQ is in London.

Firsts, records andcertificationsFirst green loan to a UK-based entity in 2019 and first ever project finance deal from the UK(among those we have been able to confirm the bond/loan type).

Proceeds description

To refinance three wind projects, a 99 MW portfolio located in Campania, Apulia andBasilicata. They are all fully operational and range from 17.5MW to 54.4MW.

Climate Bonds view

Large sector-focused investment groups are able to direct significant amounts of financetowards climate-friendly projects. As a renewable energy developer, most – if not all – ofCubico’s projects would be eligible to be funded by green bonds and/or loans, so we hope
it will choose to pursue more labelled instruments.
BBVA, CACIB, Siemens Financial Services and Société Générale

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

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