Allen & Gledhill advised National University of Singapore (“NUS”) on the issue of its S$300 million 1.565% notes due 2030 under its S$2 billion multicurrency medium term note programme (“Programme”).
NUS successfully raised S$300 million through the issue of green bonds 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 be the first university in Asia to launch a framework on sustainability-linked finance and to issue a green bond.
Advising NUS were Allen & Gledhill Partners Margaret Chin and Fabian Tan.
Advising NUS on tax issues was Allen & Gledhill Partner Sunit Chhabra.