Singapore reopened its inaugural green bond offering as it raised a further S$2.8 billion (US$2.06 billion) through placement and a public offer.

Officially called Green Singapore Government Securities (Infrastructure), the 50-year bonds were launched on August 24 and were priced to yield 3.04% per annum. The bonds have a fixed rate coupon of 3% and an offering price of S$99.26 per S$100 of the principal amount.

The unrated offering comprised of S$2.75 billion in aggregate principal amount offered to institutional and other investors, and S$50 million offered to the public.

Singapore launched its first green bond in early August 2022 amounting to S$2.4 billion with S$2.35 billion placed with institutional and other accredited investors and S$50 million to individual investors.

“We are confident these issuances will cement Singapore’s position as a global green finance hub. These also serve as a good reference point to help further develop ESG financing across Asia, where significant capital is required to finance its climate adaptation,” says Clifford Lee, global head of fixed income at DBS, which acted as the sole green structuring adviser of the latest deal as well as a joint bookrunner along with Citi, OCBC Bank, Standard Chartered and UOB.

Sustainalytics provided the second party opinion.