Green Bond Fact Sheet

Enexis Holding NVDate: 03/08/2020

Issue date: 17-06-2020 Maturity date: 17-06-2032 Tenor: 12Issuer name

Enexis Holding NV

Amount issued

EUR500m/USD565m

Country of risk

Netherlands

CBI Database

Included

Issuer type1

Non-FinancialCorporate

Bond typeSr Unsecured

Green bond framework

Link to Framework

Second party opinion

ISS-oekom

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
ReportingCompany information

Enexis is a regulated Dutch electricity and gas grid and energy services group.

Firsts, records andcertificationsFirst green bond based on green bond framework published in May 2020.

Proceeds description▪ Grid expansions & improvements for connecting/facilitating renewable energy generationand transportation (including EV charging station connections)▪ Green commercial buildings▪ Smart meters

Climate Bonds view

Underwriters

Strong reception from the market for this debut green bond from Enexis. Pricing pressure
was probably exacerbated by the will-not-grow format, and the timing. The high placementwith green accounts shows that the organisation is actively diversifying its investor base.
ABN Amro Bank NV, BNP Paribas, Commerzbank, ING Groep NV

Deal comments
Credit rating

Aa3 (Moody’s)

Pricing summary••••

Investors summary

Book cover 3bn = 6x covered

Interest spread: ms + 60bps
Yield: 0.643%
Coupon: 0.625%
Price: 99.793%

WNG (will not grow) format contributed to high book cover and large spread compression
35 basis points of spread compression in the primary market (IPT=MS+95bp)
75% of bond placed with investors describing themselves as having a green or socially
responsible investment preference (source CH)
Geographic distribution:
Germany/Austria 31%
France 28%
Benelux 15%
U.K./Ireland 12%
Asia 6%

Southern Europe 3%
Switzerland 3%
Others 2%
By investor type:
Funds 68%
Insurers/Pension funds 20%
Official institutions/Agencies 10%
Banks/Private wealth managers 1%
Others 1%

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