Green Bond Fact Sheet

Baseload Capital

Date: 26-Mar-2019

Issue date: 22-03-2019 Maturity date: 22-03-2023 Tenor: 4
Issuer Name

Baseload Capital

Amount Issued

SEK500m/USD54m

Country of risk

SwedenCBI Database

Included

Issuer Type1

Financial corporate

Bond Type

Senior secured

Green Bond Framework

Link to framework

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 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
☐ 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
ReportingBaseload Capital will produce an annual progress report on its Green Bonds, which will beprovided to investors. It will include disclosure on proceed allocation as well as an impact
report with pre-determined performance metrics. The report will be made available on thecompany’s website.

Company information

Baseload Capital is a Stockholm-based private investment firm that specialises in heat-toenergy projects. The firm provides heat power operators with funding to build and operateheat power plants.

Firsts, records andcertifications

Baseload Capital is the first private investment firm from Sweden to issue a green bondProceeds description

The proceeds will explicitly be used to finance geothermal energy and waste heat to energy
projects. For geothermal energy projects, the maximum emissions intensity is 100g
CO2/kWh. Waste to heat energy projects involve investing in power conversion of heat thatis a by-product from combustion engines on LNG-fuelled cargo ships and industrial
processes in, but not limited to, factories. Non-LNG based maritime transportation andindustrial processes powered by fossil fuels or unsustainable biofuels are excluded. Allprojects must meet the following requirements:••••

Climate Bonds view

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

Resources: Existing or well documented resources with hot water in the range of 70150 degrees Celsius should exist
Power purchase agreements: The possibility of power purchase agreements with aminimum term of 10 years
Land and lease agreements: The possibility to secure the land by acquisition or a longterm lease agreement
Partners: Baseload Capital will collaborate with local partners to facilitate each project
and these partners should possess in-depth knowledge of the local area.

This issuance is a welcome addition to the already robust pool of Swedish green debt,
especially as the first private investment firm to enter this market. Its explicit focus on heatto-energy also brings an interesting angle to sustainable energy investment.
DNB Markets

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