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Surbana Jurong breaks new ground with public sustainability-linked bond issuance

Surbana Jurong Group has successfully priced a S$250 million sustainability-linked bond due 2031, under its US$1 billion multicurrency debt issuance programme. It is innovative for being the:

  • First public sustainability-linked bond issuance from a Southeast Asian based company;
  • First Singapore dollar-denominated sustainability-linked bond;
  • First Asian sustainability-linked bond to feature a premium step-up structure at maturity.

This 10-year Singapore dollar bond at a coupon rate of 2.48 per cent drew tremendous interest from high quality institutional investors and private banks internationally – Hong Kong, Malaysia, Australia, China, Japan, Switzerland, Denmark, Portugal, the UK and other countries. The offering was more than six times oversubscribed, drawing over S$1.7 billion in orders.

Mr Wong Heang Fine, Group Chief Executive Officer, Surbana Jurong Group, said: “The built environment industry plays a vital role in responding to the climate emergency. Over the past seven decades, in our various iterations, Surbana Jurong Group has embraced sustainability as a principle in our design and execution. Now, by tying our sustainability targets to our bond financing terms, we are drawing a clear alignment between our financing strategy and our business strategy, anchored on Environmental, Social and Corporate Governance (ESG). Read more

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About the SJ Connects e-newsletter: SJ Connects is published monthly by the Surbana Jurong Group, a global urban, infrastructure and managed services consulting firm, with over 70 years of track record in successful project delivery. Headquartered in Singapore, the group has a global talent pool of 16,000 across Surbana Jurong and our member companies AETOS, Atelier Ten, B+H, KTP, Prostruct, RBG, SAA, Sino-Sun and SMEC, based in over 40 countries. We provide a full suite of multidisciplinary consultancy services across aviation, healthcare, hospitality, transport, water and environment as well as energy and resources. Our technical teams include architects, designers, planners, engineers and other specialists driven by progressive thinking and creative ideas in our mission of “Building Cities, Shaping Lives”.