By Mary-Katherine Stinson
Lexington, Ky., March 9 – Singapore’s Sembcorp Financial Services Pte. Ltd. issued S$350 million 4.6% notes due 2030, according to a company announcement Thursday.
The series 004 notes were issued under the S$3 billion multicurrency debt issuance program established by Sembcorp Financial and parent company, Sembcorp Industries Ltd.
DBS Bank Ltd., United Overseas Bank Ltd are the joint global coordinators and bookrunners. CIMB Bank Bhd., Singapore Branch is also listed as a joint bookrunner.
Clifford Capital Pte. Ltd. has subscribed for a portion of the notes.
The notes are guaranteed by the parent company.
Listing of the notes on the Singapore Exchange is expected to take place on March 16.
Proceeds will be used to finance or refinance, in whole or in part, new or existing projects which fall in the list of eligible green projects. Clifford Capital’s subscription in the notes will be used to finance eligible projects and/or refinance operating eligible projects of new or existing wind, solar, and/or energy storage renewable project outside of Singapore in which the group has a direct or indirect ownership of an agreed percentage.
Including this issue, Sembcorp reported securing in total S$4 billion of sustainable financing to support its brown to green transformation strategy.
Sembcorp is an engineering and construction contractor in Singapore.
| Issuer: | Sembcorp Financial Services Pte. Ltd.
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| Guarantor: | Sembcorp Industries Ltd.
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| Amount: | S$350 million
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| Issue: | Series 004 notes
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| Maturity: | March 15, 2030
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| Bookrunners: | DBS Bank Ltd., United Overseas Bank Ltd., CIMB Bank Bhd., Singapore Branch
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| Coupon: | 4.6%
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| Price: | Par
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| Yield: | 4.6%
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| Pricing date: | March 9
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| Issue date: | March 15
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| Listing date: | March 16
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