Linklaters has acted on Singapore’s issuance of SGD2.6 billion (USD2 billion) in sovereign green bonds due 2046 under its medium-term note (MTN) programme.
The Green Singapore Government Securities (Infrastructure) bond issuance also includes around SGD7.62 million in aggregate principal amount made available to Singapore retail investors through a public offering.
Amit Singh, head of South and Southeast Asia capital markets, led the Linklaters team with capital markets partner Xunming Lim. Providing legal counsel to the arrangers and joint lead managers, they were supported by managing associate Alwyn Loy, and associates Ashley Loh and Reeve Chia.
“We advised on compliance with international securities laws and regulations, and various execution processes relating to the update of the programme and the issuance of the bonds, including to Singapore retail investors,” Lim told Asia Business Law Journal.
Singh said there were several notable features associated with the issuance, including the strong level of investor demand.
“The offering also included a public offer to retail investors in Singapore, which entailed additional complexity. Under the programme, the government is authorised to issue securities for moneys borrowed under the Significant Infrastructure Government Loan Act 2021 of Singapore (SINGA),” he told ABLJ.
“This latest transaction is another important milestone in Singapore’s sovereign green finance journey and reflects the continued development of its sustainable finance market.”
Linklaters said proceeds from the issuance would go towards financing expenditures under the Singapore Green Bond Framework.
