Singapore Prices Inaugural Sovereign Green Bond

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By Ronnie Harui

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Singapore priced an inaugural sovereign green bond worth 2.4 billion Singapore dollars ($1.74 billion) at 3.04%, the country’s central bank said.

Of the total amount, S$2.35 billion of the 50-year bond was placed with institutional and accredited investors, the Monetary Authority of Singapore said Thursday. The remaining S$50 million of the bond will be offered to individual investors, the MAS said.

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The book-building process had strong investor demand, reflected in the combined placement order book of more than S$5.3 billion, or 2.26 times the size of the amount offered under the placement, the MAS said. The 3.04% yield represented a significant tightening of -11 basis points from the initial price guidance at the start of the book-building, while the S$2.35 billion placement size was at the top end of the targeted issuance size, the central bank added.

DBS Bank Ltd., Deutsche Bank AG’s Singapore branch, The Hongkong and Shanghai Banking Corp.’s Singapore branch, Oversea-Chinese Banking Corp. and Standard Chartered Bank (Singapore) Ltd. were the book runners for the transaction, the MAS said.

Write to Ronnie Harui at [email protected]

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Credit: www.marketwatch.com /

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