Green Bond Fact Sheet
Societe du Grand Paris
Issue date: 22-Oct-2018 Maturity date: 22-Oct-2028 Tenor: 10Date: 29-Oct-2018

Issuer Name

Societe du Grand Paris

Amount Issued

EUR1.75bn (USD2.01bn)

Country of risk

FranceCBI Database

Included

Issuer Type1

Government-Backed Entity

Bond TypeGreen Bond Framework

Link to Framework

Second party opinion

Certification Standard
Certification Verifier

Low Carbon Transport
Sustainalytics

Unsecured Green EMTN

Sustainalytics

Assurance report

N/A

Green bond rating

N/A

Use of Proceeds☐ Energy☐ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☐ Electricity grid

☐ Energy storage☒ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energy performance☐ 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☐ Wastewater treatment☐ Water storage☐ Storm water mgmt
☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ 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 commits to provide allocation and impact reporting annually on the company’swebsite. In the year following the issuance, the issuer will also provide investors with a thirdparty assurance of the allocation of proceeds and its reporting.

Company information

Société du Grand Paris is a French state-owned company providing transportation andinfrastructure construction services in the Paris Metropolitan Area. SGP is tasked withdesigning and developing infrastructure projects for the public transport network of the Paris
Metropolitan Area, with the aim to promote a sustainable, inclusive and job creatingenvironment.

Firsts, records andcertificationsFirst green EMTN programme.

Proceeds description

Proceeds will fund the construction of new metro lines and extensions to existing ones, adding
almost 200km of new automatic metro lines to the 400km of existing lines in the Ile-de-Franceregion. The bond will also finance the development of 68 stations and 7 technical centres aspart of the Grand Paris Express project. All eligible assets are fully electrified and exclusively
support electric assets.
The adoption by SGP of the streamlined Programmatic Certification process is a welcome step,
particularly given the multi stage decade long nature of this infrastructure project andproposed multiple certified green issuance. SNCF in France and SF BART and both New Yorkand LA MTA are other large public transport operators who also certify on a programmaticbasis.

Climate Bonds view
Underwriters

Barclays, BNP, Credit Agricole CIB, HSBC, Natixis, Societe Generare

Deal comments
Credit Rating
Pricing summary
Investors summary

1The orderbooks closed in excess of EUR 3.6bn and the transaction launched, at EUR1.75bn
with a spread of 24bps above the interpolated OAT. (source)
Geographical well diversified across Europe with strong French participation (49%) followed bythe Netherlands (14%) and the Nordics (14%) but also some good international interest out ofAsia (2%). strong bid by the Insurance and Pension Funds (45%), followed Banks & Private
Banks with (24%), Asset Managers with (22%) and Central Banks & Official Institution interestat (9%). (source)

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