Surbana Jurong prices $250 mil sustainability-linked bond due 2031, Singapore's first

Surbana Jurong Group has, on Feb 4, successfully priced a $250 million sustainability-linked bond, making it the first Singapore dollar-denominated sustainability-linked bond.

This is also the first public sustainability-linked bond issuance from a Southeast Asian-based company and the first Asian sustainability-linked bond to feature a premium step-up structure at maturity.

The bond, which carries a coupon of 2.48% per annum, will be drawn down under Surbana’s US$1 billion ($1.33 billion) multicurrency debt issuance programme.