By Rebecca Melvin
New York, Feb. 3 – Singapore’s Surbana Jurong Private Ltd. issued S$350 million of 2.48% sustainability-linked notes due 2031, according to a notice on Wednesday.
The notes also pay ¾% of the notes outstanding at maturity if certain sustainability performance targets are not achieved. They were issued under a $1 billion multicurrency debt issuance program,
The proceeds of the notes will be used for general corporate and working capital purposes and/or to refinance existing debt and/or to finance potential acquisition opportunities of the issuer and its subsidiaries.
DBS Bank Ltd. was joint lead manager and Australia and New Zealand Banking Group Ltd. was sole sustainability structuring adviser and joint lead manager for the Regulation S deal.
The issuer is a Singaporean government-owned infrastructure and urban development consultancy.
| Issuer: | Surbana Jurong Private Ltd.
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| Issue: | Sustainability-linked notes
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| Amount: | S$350 million
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| Maturity: | Feb. 10, 2031
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| Bookrunners: | DBS Bank Ltd. and Australia and New Zealand Banking Group Ltd.
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| Coupon: | 2.48%
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| Issue date: | Feb. 10
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| Listing date: | Feb. 11
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| Distribution: | Regulation S
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