Green Bond Fact Sheet

Massachusetts Housing Finance Agency

Date: 06/07/2020

Issue date: 25-06-2020 Maturity date: 01-06-2060 Tenor: 39.9
Issuer nameMassachusetts
Housing FinanceAgency

Amount issued

USD122m

Country of risk

USA

CBI Database

Included

Issuer type1

Government-Backed
EntityBond type

US MuniGreen bond framework

N/A

Second party opinion

N/A

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

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ 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
ReportingCompany information

There will allocation reporting until proceeds have been fully allocated. This will be in formof annual updates on the disbursement of the proceeds.
Massachusetts Housing Finance Agency is a politic and corporate body that was created in1996. Its purpose is to increase the supply of multi-family residential housing for individualsof low and moderate income. The organisation is authorized to issue bonds and notes forthe purpose, among other things, of making mortgage loans to supply well-planned andwell-designed apartment units in multi-family developments.

Firsts, records andcertifications
Proceeds description

The proceeds will be used to fund the construction, preservation, and redevelopment of
three affordable rental housing developments. These buildings are expected to haveenergy efficiency standards complying with Massachusetts Housing Finance Agency’s
lending requirements. This includes base energy efficiency standards for example LEED or
the use of Energy Star components. Base requirements include high-efficacy lighting,implementation of water-saving techniques, improvement to insulation and buildings
envelope, creation of green landscaping among others. Amongst the projects are
acquisition and construction or rehabilitation of 449 residential rental units across sixbuildings.

Climate Bonds view

The transparency given at issuance for the projects that will be funded is impressive and agood example to follow for more US Muni issuers. The green credentials are guided by theGreen Bond Principles and promises continuous reporting. We welcome this level of atissuance and post-issuance disclosure and are glad to see such developments in the US
Muni space.
BARC

Underwriters
Deal comments
Credit rating

AA (S&P)

Pricing summary•••

Investors summary

Yield: 3.100%
Coupon: 3.100%
Price: 100.000%

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