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

Surbana Jurong’s sustainability-linked bond issuance features attracted interest from high-quality investors

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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