Monetary Authority of Singapore has announced that it will be issuing Singapore’s inaugural sovereign green bond – known as Green Singapore Government Securities.
The green bond will be launched via a book-building process within the week and will be denominated in Singapore Dollars with a tenor of either 30 or 50 years, at a minimum issuance size of about S$1.5 billion.
The sovereign green bond forms part of the pipeline of up to S$35 billion of sovereign and public sector green bonds that the Government of Singapore and its statutory boards will issue by 2030. It will be issued under the Singapore Green Bond Framework, which details the Government’s intended use of green bond proceeds, the governance structure to select eligible projects, the operational approach to manage green bond proceeds, and the commitment to annual allocation and impact reporting.
The City nation plans to use the proceeds from the issuance to finance expenditures in support of the Singapore Green Plan 2030, including the Jurong Region Line and the Cross Island Line.
Interested institutional investors may approach the appointed bookrunners for more information – these are DBS Bank Ltd., Deutsche Bank AG Singapore Branch (DB), The Hongkong and Shanghai Banking Corporation Limited Singapore Branch, Oversea-Chinese Banking Corporation Limited, and Standard Chartered Bank (Singapore) Limited.
