Green Bond Fact Sheet
Vesteda Finance BV

Date: 23/05/2019

Issue date: 24-05-2019 Maturity date: 24-05-2027 Tenor: 8Issuer Name

Vesteda Finance BVAmount Issued

EUR500m/USD558m

Country of risk

The Netherlands

CBI Database

Included

Issuer Type1

Financial Corporate

Bond Type

Senior unsecured

Green Bond Framework

Link to Framework

Second party opinion

Second Party Opinion

Certification Standard

Climate Bonds Standard Version 2.1
including Sector Criteria for:

Assurance report

Pre Issuance Verification
ReportSustainalytics

Green bond rating

N/A☐ 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
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience••
Certification Verifier

Low Carbon Buildings(residential)
Low Carbon Buildings (upgrades)

Use of Proceeds☐ 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

At least until all the proceeds are allocated, annual reports will be made publicly available on theIssuer’s website. The reports will contain information on the allocation of proceeds, the value ofunallocated proceeds and the proportion of financing vs refinancing.
Throughout the term of the bond, annual impact reports will also be made available. These reports
will include information about the EPC labels of the portfolio and its estimated energy savings as well
as avoided CO2 emissions compared to a representative residential portfolio.

Company information

Vesteda was established in 1998 as a spin-off of the residential portfolio of the Dutch pension fund
ABP and is currently the largest investment fund in residential property in the Netherlands.
As of early 2019, Vesteda has a total of EUR 7.3 billion (USD 8.2 billion) invested in mid-market
residential rental properties in the Netherlands. Its rental portfolio consists of approximately 29,000
residential units across 532 residential complexes.
Vesteda is funded mainly by institutional investors, such as pension funds and insurance companies.
Vesteda prioritises the environmental performance of its homes. It has set a target for at least 80% of
its portfolio to have EPC Label A, B, or C, with the remaining 20% to have EPC Label D before 2021.
This is more ambitious than the Dutch Government’s targets for the rental residential properties
sector.

Firsts, records andcertifications

Proceeds description

This is the first residential property fund globally to receive Climate Bonds Certification, and the first
property fund in Europe to receive Certification. Previously, CDL Properties (Singapore), Investa(Australia) and Brookfield Properties (Australia) have received Certification but only for commercialproperty.
The proceeds will be used to finance and refinance Vesteda’s investments in Dutch residential
properties that have either an EPC Label of “A” or have undergone refurbishments resulting in 2 levelsof improvement in the EPC label and up to a minimum level of C.
This amount of improvement corresponds to a minimum of 34% reduction in CO2 emissions, whichmeets the threshold requirement of the Criteria.

Climate Bonds view

This is the fourth issuer in the Netherlands to receive Certifications related to residential buildings inthe Netherlands. In Europe, this makes the Netherlands the most prolific country with Certified
Climate Bonds related to residential buildings.

Underwriters

ABN AMRO, BNP Paribas, ING, Rabobank, SMBC

Deal comments
Credit Rating

S&P BBB+Pricing summary

Coupon 1.5%

Investors summary

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