Green Bond Fact Sheet

Region of Pays de la Loire

Date: 17-Jan-2018

Issue date: 12-Oct-2018 Maturity date: 12-Dec-2033 Tenor: 15Issuer Name

Region of Pays de laLoire

Amount Issued

EUR75m (USD87m)

Country of risk

FranceCBI Database

Included

Issuer Type1

Local Government

Bond TypeGreen bondGreen Bond Framework

Link to Framework

Second party opinion

Vigeo Eiris

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
☐ 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

The issuer will report annually on the projects financed by the green bond up to full allocationof proceeds. An impact report disclosing several performance indicators as listed in the green
bond framework will also be published every year. Reports will be made publicly available on
the issuer’s website.
Pays de la Loire is a region in western France with a coastline on the Bay of Biscay, andencompasses part of the Loire Valley. It has a population of around 3,6 million and a GDP ofaround EUR101.2bn (as of 2012).

Firsts, records andcertifications
Proceeds description

According to the Green Bond Framework, proceeds will be earmarked to financeeligible projects under three categories: energy, buildings and transport.
Renewable energy projects must be related to solar, wind, marine energy,biomass, geothermal, photovoltaic, electric, wood, biogas and ocean energies. To
be eligible, public buildings must meet at least one of several standards, includingthe Réglementation Thermique 2012 (RT2012) – a standard requiring that newbuilding work attains an energy efficiency performance three times greater thanthe existing standard – and a “Very Good” HQE certification. Private buildings mustalso meet the RT2012 standard and renovations have to yield at least a 40% energy
performance improvement. Eligible projects under the transport sector include
electric and hybrid cars, rail transport and infrastructure for clean energy vehicles.

Climate Bonds view

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

The bond was previously placed as pending due to insufficient information
involving biomass and biogas projects. However, as it is only one of several
renewable energy technologies listed as eligible and as the examples of qualifying
projects mainly involve solar and marine renewables, we assume that bioenergy
projects represent a limited share of proceed allocations. Nevertheless, we willkeep monitoring proceed allocation reporting to ensure that either biomass
projects use exclusively sustainable feedstock or that financing allocated to theprojects is at most 5% of the bond’s proceeds.
HSBC, Credit Agricole CIB

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