Green Bond Impact Report (EDC Investments)

Summary

• EDC issued its inaugural Green Bond in January 2014, funding nine transactions totaling USD 308 million.p.2
• EDC issued its second Green Bond in December 2015, funding eight transactions totaling USD 358 million.p.2
• Green Bond 2 has a size of US$300 MM and a coupon of 1.250%, maturing on 10 December 2018.p.2
• Green Bond 2 proceeds are allocated 48% to Renewable Energy, 33% to Public Ground Transportation and 19% to Biofuels and Bioenergy.p.4
• Annual GHG emissions avoided or reduced are estimated at approximately 2.16 million metric tonnes of CO2-equivalent.p.4
• This corresponds to taking approximately 455,000 passenger vehicles off the road per year.p.4

Key insights

1. The first Green Bond had a size of US$300 MM and a coupon of 0.875%, and has now matured.p.2
2. Both Green Bonds carry ratings of Aaa Stable from Moody's and AAA Stable from S&P.p.2
3. CICERO has endorsed EDC's Green Bond Framework.p.2
4. Green Bond 2 funds include the 150-turbine Gemini Wind Project offshore in the Netherlands.p.3
5. Renewable Energy assets account for 1.94 million metric tonnes, or 90% of the GHG total.p.4
6. Biofuels and Bioenergy account for 0.22 million metric tonnes, or 10% of the GHG total.p.4