Issue of S$340 million green notes by National University of Singapore

A&G News 10 April 2023

Allen & Gledhill, as transaction counsel, advised National University of Singapore (“NUS”) on the issue of its S$340 million 3.268% notes due 2033 under its S$2 billion multicurrency medium term note programme (“Programme”).

NUS successfully raised S$340 million through the issue of green notes under the Programme, where the net proceeds from the issue will be allocated towards the financing of green projects under the new Green Finance Framework of the university. The Green Finance Framework provides the overarching criteria and guidelines for NUS to enter into green finance transactions and is a move by the university to extend its efforts in addressing climate change and environmental sustainability.

NUS is believed to have been the first university in Asia to launch a framework on sustainability-linked finance and to issue a green note.

Advising NUS were Allen & Gledhill Partners Margaret Chin and Sunit Chhabra.