Green Bond Fact Sheet

Bustadkreditt Sogn og Fjordane (SSF)

Date: 23/01/2020

Issue date: 23-12-2019 Maturity date: 19-06-2030 Tenor: 11Issuer Name

Bustadkreditt Sogn og
Fjordane (SSF)

Amount Issued

NOK500m/USD56m

Country of risk

NorwayCBI Database

Included

Issuer Type1

Financial Corporate

Bond Type

SecuredGreen 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 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☐ 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

Bustadkreditt is committed to regular reporting at least on an annual basis until all green
bonds have matured. The reporting will be published on May 1st of each year on thecompany’s website and will include details on proceed allocations, financing vs refinancing
splits and information on any unallocated funds. The accompanying impact report willcomprise the following at the portfolio level:• A breakdown of green projects• Estimated ex-ante annual energy consumption in (kWh/m2) or energy savings inMWh• Estimated annual reduced or avoided emissions (tCO2e)• Breakdown of green loans per EPC level
Both reports will be externally verified and assured on an annual basis. Bustadkreditt has
also appointed a specialised green real estate consultancy to develop the calculation
methodology for estimating the impacts of its green covered bond.

Company information

Bustadkreditt Sogn og Fjordane AS is a wholly-owned subsidiary of Sparebanken Sogn og
Fjordane, with its head office in Førde, Norway. The Company provides and/or acquires
residential mortgages and loans secured by mortgages on other registered assets. It lends
to the public sector and finances its lending activities primarily by issuing covered bonds. Asof 2018 its total assets amounted to NOK52.9bn and it had 270 employees.

Firsts, records andcertifications
Proceeds description

Bustadkreditt’s green covered bond will be finance or refinance new and existing
mortgages for energy efficient residential buildings in Norway. The buildings must meet
specific energy efficiency thresholds in accordance with the Norwegian Building Codes. The
requirements differ for new, existing and refurbished buildings and are outlined fully in theissuer’s Green Covered Bond Framework.

Climate Bonds view

Bustadkreditt Sogn og Fjordane was the second financial corporate from Norway together
with its peer Fana Sparebank to enter the green bond market in December 2019. The
sector is seeing healthy levels of growth and sets a positive example particularly on
residential energy efficiency financing for other European countries to follow.

Underwriters

DNB

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