Sembcorp Industries has just launched a $675 million sustainability-linked bond (SLB).

The ten-and-a-half year Singapore dollar bonds were issued at a coupon rate of 2.66% under the group’s $3 billion Multicurrency Debt Issuance Programme. DBS and UOB are the joint lead managers and bookrunners for the bond.

Sembcorp priced its SLB through its wholly-owned subsidiary Sembcorp Financial Services. This was anchored by an investment of $150 million from the International Finance Corporation (IFC), the private sector investment arm of the World Bank.

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